AF Bus Enabling (IFC-602848)

Countries
  • Afghanistan
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
Apr 4, 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.
Sectors
  • Industry and Trade
  • Law and Government
  • Technical Cooperation
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.
Project Cost (USD)
$ 1.80 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 Mar 17, 2021

Disclosed by Bank Aug 13, 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.

According to the bank website, the overall objective of the project is to catalyze doing business reforms in Afghanistan. Project specific objectives are:

1. Streamline the legal and regulatory framework in two of the doing business areas
2. Strengthen inter-agency coordination mechanisms on investment climate reforms and establish effective public-private dialogue mechanisms
3. Implement a Systematic Investor Response Mechanism to increase investment retention

The implementation of the project started in January 2018. Since then, the project achieved significant milestones that contributed in improvement of business climate in Afghanistan:

I. Drafted Doing Business Reform Memorandum for 10 Doing Business Indicators. It provides short, medium and long-term recommendations for GoIRA. The recommendations of the Memo have been imbedded in the 5-year national priority program on private sector development in Afghanistan as a roadmap to improve investment climate.

II. The project supported Government of Islamic Republic of Afghanistan (GoIRA) in drafting a 5-year National Priority Program and short-term action plans for Private Sector Development in the country.

III. The project helped the GoIRA in implementation of some of the recommendations under the DB reform memo. the project team reviewed and provided inputs in the revision of Limited Liability Company and new Insolvency laws. As a result of the recommendations, the country moved up in the ranking of countries in the Doing Business report from 183 in 2018 to 167 in 2019.

IV. To strengthen coordination efforts, the project is providing technical support to Executive Committee on Private Sector development (PriSEC) to undertake coordination and monitor progress of reforms’ implementation. PriSEC is a high-level platform that coordinates and monitors reforms for private sector development.

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.

No project-specific contact information available at time of writing.

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