E&S Myanmar (IFC-602601)

Countries
  • Myanmar
Geographic location where the impacts of the investment may be experienced.
Specific Location
Nation-wide
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
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
Nov 9, 2018
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
Borrower is not disclosed
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • 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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 2.00 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)
$ 2.00 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 May 8, 2019

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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.

Component 1: The project will support new and existing clients to enhance their E&S performance, providing technical solutions to complex E&S challenges based on IFC's Performance Standards; and helping clients to adopt robust E&S management systems that ensure management and oversight of environmental, health and safety and other risks at the right level.

As a result, high-risk clients across a range of sectors will implement recommendations to improve their ESG performance and the project will help unlock new investments.

Component 2: The project will support the enabling environment for good E&S practices in the private sector by:

(a) strengthening local intermediaries to provide effective support to local firms on E&S practices; and

(b) furthering effective government oversight through Environmental Conservation Department/ Ministry of Natural Resources and Environmental Conservation (ECD/MONREC)’s improved ability to effectively implement and manage the EIA process with the quality and timeliness required by EIA procedures adopted in 2015.

This work will be carried out in-line with the Environmental Sector Working Group which both WB and IFC participate in as well as the Sub-Committee EIAs. A coordinated approach to supporting ECD/MONREC is underway. ECD/MONREC will have identified operational, resourcing and administrative bottlenecks to effectively conducting EIA systems and developed a roadmap to strengthen these systems.

Component 3: The project will build the knowledge of broader private sector and other stakeholder groups in Myanmar on key environmental and social challenges, solutions, and good management practices, with a focus on power, infrastructure, agriculture, and tourism sectors.

Participants to IFC sponsored events will report increased knowledge of E&S issues and 2-3 guidance notes will be published on the level of inquiry clients will need to apply in line with the IFC’s Performance Standards and investment risks.

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 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/

How it works

How it works