Rwanda SIRM (IFC-603299)

Countries
  • Rwanda
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
May 25, 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
Republic of Rwanda
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)
$ 0.53 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)
$ 0.53 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.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Jan 11, 2019

Disclosed by Bank Nov 14, 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 objective of the Systemic Investors Response Mechanism (SIRM) project is to pilot the SIRM tool in Rwanda (another pilot is being implemented in Ethiopia). SIRM is an early warning and tracking tool to identify and resolve issues that arise due to specific action or inaction of a government agency. The project aims to customize the SIRM tool to the political economy of Rwanda to enable them to measure the FDI retained and expanded as a result of early detection and management of investors' problems arising out of government action. Further, on the basis of the pilot, the project aims to extract lessons as how to better customize the tool to the African context and improve the efficiency and adaptability of the SIRM to other developing client countries.

A SIRM is designed based on a country's specific political, economic and legal/institutional framework. A Lead Agency is designated with the authority to implement SIRM, including coordinating with national, subnational and sector-specific agencies to influence their actions to effectively reduce political risks at their source. As such, the SIRM is a key instrument to promote de-risking of investments, creating markets and a more enabling environment for private investment. In Rwanda, the agency hosting the SIRM will be Rwanda Development Board, which has the mandate and is the current main actor to assist investors with their operational issues and grievances involving the government.
The project is being implemented from May 2018 to December 2019 and is structured along three specific components: (1). Support and Strengthen RDB's capacity to handle investor issues for entry, establishment, retention and expansion of investment (2). Support prevention of escalation of investor issues (3). Horizontal support for technology tool and capacity building.

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 contact information 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/

How it works

How it works