Myanmar Power AS (IFC-602475)

Countries
  • Myanmar
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
Dec 12, 2017
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
  • Energy
  • Infrastructure
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.
Investment Amount (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.
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.
Primary Source

Original disclosure @ IFC website

Updated in EWS Sep 16, 2019

Disclosed by Bank Dec 13, 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.

The overall objective of the Myanmar Power Advisory Project is to catalyze private investment in the clean energy sector in Myanmar, especially hydro power and solar power. The project will do this by systematically addressing barriers to private sector participation in clean energy at both the market and firm level, working with industry associations, groups of companies, equipment suppliers or service providers, the Government of Myanmar, and other stakeholders.

At the market level, the project will facilitate investments in clean energy by working with groups of companies, regulatory entities, and other stakeholders to address market needs and barriers, develop bankable contractual structures, and match potential suppliers and end-consumers. At the firm level, it will catalyze climate financing for bankable clean energy projects and thereby demonstrate market viability for other potential private sector players. The project will do this by advising private companies and public sector agencies on project structuring, scaling viable business models, and building capacity on best industry practices, focusing on the hydropower and solar sectors.

People Affected By This Project
People Affected By This Project refers to the communities of people likely to be affected positively or negatively by a project.

The overall objective of the Myanmar Power Advisory Project is to catalyze private investment in the clean energy sector in Myanmar, especially hydro power and solar power. The project will do this by systematically addressing barriers to private sector participation in clean energy at both the market and firm level, working with industry associations, groups of companies, equipment suppliers or service providers, the Government of Myanmar, and other stakeholders. The project expects to deliver the following impacts:
• Increased capacity and generation of renewable energy through direct and indirect investment;and
• Mitigation of climate change due to reduction of greenhouse gas emissions from increased renewable energy usage.

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.

*There is no further information being revealed 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/

How it works

How it works