MENA Regional Power Advisory (IFC-601680)

Countries
  • Algeria
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
Active
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
Oct 19, 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.
Borrower
Government of Algeria
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Project Cost (USD)
$ 3.90 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.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Sep 23, 2017

Disclosed by Bank Apr 12, 2017

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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.
The objective of the MENA Regional Power Advisory Program (the Program) is to address energy security by scaling up investment potential in sustainable energy production, transmission, distribution, and other related infrastructure. The program aims to support more accessible, affordable, efficient, reliable and sustainable energy throughout the region where energy security is an increasing concern in the context of extended social unrest. The program is designed to enable the private sector to be a key solution provider to these challenges by: (i) advising specific companies on investing in clean energy (ii) working with groups of companies and other public and private sector stakeholders on a market/sector level to address market barriers and facilitate the development of investment opportunities in clean and renewable energy supply across the region, particularly in nascent markets where IFCs role has been limited in the past (Algeria, Tunisia), or in more challenging markets (FCS). Project components include; Component 1: Firm Level Activity A: Scale up of Grid-Tied and Distributed Renewable Energy Supply Infrastructure: The feasibility of various renewable technology solutions depends on the country-level context including energy pricing, energy resources and regulatory environment. Solar is expected to be the main focus for the region, followed by small-hydro and wind in selected markets. Focus of support will be on investors, developers, suppliers, and other relevant private sector players. Component 2: Group of Firms and Market Development Work MENA market level work is designed to proactively improve the investment climate for the private sector in clean energy infrastructure, given that the energy sector is heavily regulated by governments and associated policies/regulations. Market level efforts in this sector must be done in partnership with the World Bank, C3P and CIN along with other relevant and important stakeholders. The market development work also serves to attract investors to a market or sector in which they are currently not active, or identify gaps in investment or suitable providers.
Investment Description
Here you can find a list of individual development financial institutions that finance the project.

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.
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