Tadamun 2 (IFC-602602)

Countries
  • Egypt
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
Approved
Bank Risk Rating
FI
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
Sep 20, 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 Egypt
The holder of the loan, grant, or other investment.
Sectors
  • Finance
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)
$ 0.40 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)
$ 0.40 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 May 29, 2018

Disclosed by Bank Mar 14, 2018


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Project Description

The overall goal of this project is to continue to support Al Tadamun in key functional areas that will help the institution grow responsibly, diversify their product offering, expand nationwide, and more effectively serve their female clients.

IFC’s Advisory engagement with Al Tadamun will consist of three main components:

  1. Risk Management, focusing primarily on coaching the Audit and Risk teams, training of the Internal Control Department, and developing a Business Continuity Plan,
  2. Product Development, under which a micro-insurance product will be developed and piloted in collaboration with a local insurance company, and
  3. General Institutional Capacity Building which will focus on training staff in key areas, building a Regional Structure and its accompanying policies and procedures to prepare for nationwide expansion, and establishing a Customer Relationship Management unit.
Investment Description
  • International Finance Corporation (IFC)
Private Actors
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/