Zambia STR Ph 2 (IFC-602541)

Countries
  • Zambia
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
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
Jul 28, 2018
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
*Borrower information not provided at the time of disclosure*
The holder of the loan, grant, or other investment.
Sectors
  • Finance
  • Law and Government
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)
Not Disclosed
When disclosed, the bank did not provide this value. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS May 8, 2019

Disclosed by Bank May 2, 2019


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

According to bank documents, this project is a continuation of WBG Finance, Competitiveness and Innovation's (FCI) Zambia Secured Transactions Phase 1 project, which led to the establishment of the best practice legal and institutional framework for movable asset-based lending. The Phase 2 of this project will address all the main obstacles and non-leveraged opportunities for the development of a robust movable asset based lending market. The project will have six components:

  1. Increase the lenders' and key stakeholders’ understanding and knowledge of the movable asset based financing;
  2. Assess and adjust prudential regulation guidelines and oversight procedures on movables based collateral lending to further facilitate movable asset based lending;
  3. Amend the Small Claims Court Act and continue to strengthen the capacity of the Zambia Judiciary on the MPSI & Insolvency Acts, including the new changes to the Small Claims Court Act;
  4. Develop and implement the leasing regulation in collaboration with Bank of Zambia;
  5. Build capacity of the insolvency regulator/administrator (PACRA) on bankruptcy and insolvency practices and support the development of the insolvency practitioners' industry; and
  6. Strengthen the statistical analysis and reporting capability based on data from the Collateral Registry database to guide policy directives aimed at reporting on the development of a movables based finance industry in Zambia.
Investment Description
  • International Finance Corporation (IFC)
Contact Information

* Contact information not provided at the time of disclosure*

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/