Vietnam FS (IFC-601644)

Countries
  • Vietnam
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Dec 23, 2016
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Sectors
  • Agriculture and Forestry
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Advisory Services
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Project Cost (USD)
$ 1.27 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Mar 27, 2019

Disclosed by Bank Jan 3, 2018

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

This program proposes a 3-year food safety advisory services project supporting a set of three investment clients in Vietnam and their supply chains. 

According to IFC documents, the project has three main objectives:

Objective 1:

Use food safety advisory as a lever to improve the performance and efficiency of the selected three investment clients by a) increasing sales, b) reducing costs, and/or c) reducing the risk profile (as measured by number of implemented recommended changes). At a same time the project contributes supply chains by providing direct FS advisory support to smaller farmers (out growers of chicken and piglets) and supports other SMEs such as slaughter houses.

Objective 2:

Build capacity across strategic sectors in Vietnam by leveraging resources with IBRDs Global Food Safety Partnership (GFSP), IBRD and T&C via: a) engaging Clients into specific Food Safety capacity building activities, b) developing sector level analysis relevant for MAS investments, c) ensuring Clients contribution in the high level working group meetings on government level related to food safety regulatory and enforcement issues, d) raising awareness on the benefits of better food safety management among other industry players, e) training/verifying consultants to develop a cadre of experts who can support MAS and other industry clients in the future.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Estimated Total Budget: US$ 1,267,785.00
(Project budget includes all project-funded activities)

 

 

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

*No further information is provided by this stage of project*

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/

How it works

How it works