INDO GB Promo (IFC-602197)

Countries
  • Indonesia
Where the impacts of the investment may be experienced.
Specific Location
Jakarta, Bandung
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jun 26, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Government of Indonesia
The holder of the loan, grant, or other investment.
Sectors
  • Climate and Environment
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, etc.
Investment Amount (USD)
$ 1.40 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 1.40 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Mar 27, 2019

Disclosed by Bank May 21, 2018


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Project Description

According to IFC, the project was started in FY11 has focused on the regulatory work as it would lay out a strong foundation for creating a GB market in Indonesia as one of the key means to achieve the countrys GHG reduction, create employment and improve the nations economy. In the early Phase (Phase I), the project has assisted both the national government (Ministry of Public Works and Public Housing) and selected local governments (Provincial Government of Jakarta and City Government of Bandung) as pilot cities to develop and issue GB codes that have resulted in a potential reduction of more than 600K metric tons/ year of GHG emissions and energy costs of almost USD 60 million/ year from commercial buildings (as of May 2016). In Phase II, the project will further assist the government and private sector including financial institutions through a programmatic approach of combining mandatory regulation and voluntary certification to ensure a wider adoption of GB in Indonesia.

Investment Description
  • International Finance Corporation (IFC)
Contact Information

*There is no further information being disclosed at this stage of the 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/