Original disclosure @ IFC website
Updated in EWS Apr 7, 2020
Disclosed by Bank Mar 20, 2020
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According to bank provided information, IFC is supporting one of the largest Pan-African banks to strengthen its risk management framework allowing the bank to solidify its position as a market leader and expand its outreach to the largely underserved segments in Morocco and more broadly in Africa.
There is often limited information publicly available about what development banks are funding through financial intermediaries. In 2021, the Early Warning System partnered with Oxfam International to incorporate information on high-risk projects being funded by financial intermediaries receiving funding from the International Finance Corporation (IFC) and the Dutch Development Bank (FMO).
The information listed below describes the relationship between the different private actors linked to high-risk sectors and subprojects of IFC and FMO's financial intermediary investments and/or the financial intermediary's parent companies made from 2017 through 2020, including any associated ring fences.
The database, however, does not explicitly or implicitly imply that IFC or FMO have material exposure to or are contractually or legally accountable to the sub-projects financed by their financial intermediaries or the financial intermediary's parent companies. It only shows a seemingly financial relationship among the different private actors, the financial intermediaries, and IFC or FMO.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|BANQUE CENTRALE POPULAIRE||Investor||Finance||invests in||Arome||Parent Company||Construction|
|BANQUE CENTRALE POPULAIRE||Investor||Finance||invests in||Bionnassay M&P Tech Sas||Parent Company||Transport|
|BANQUE CENTRALE POPULAIRE||Investor||Finance||invests in||Cocoa Touton Processing Co||Parent Company||Agriculture and Forestry|
|BANQUE CENTRALE POPULAIRE||Investor||Finance||invests in||Eranove Group||Parent Company||Energy|
|BANQUE CENTRALE POPULAIRE||Investor||Finance||invests in||Kekeli CCGT Plant (65MW)||Client||Energy|
|BANQUE CENTRALE POPULAIRE||Investor||Finance||invests in||Managem Group||Parent Company||Mining|
|BANQUE CENTRALE POPULAIRE||Investor||Finance||invests in||RecAero SA||Parent Company||Transport|
|BANQUE CENTRALE POPULAIRE||Investor||Finance||invests in||Tri K Gold Mine||Client||Mining|
|BANQUE CENTRALE POPULAIRE||Investor||Finance||invests in||Umanis SA||Parent Company||Construction|
|Eranove Group||Parent Company||Energy||owns||Kekeli CCGT Plant (65MW)||Client||Energy|
|Managem Group||Parent Company||Mining||owns||Tri K Gold Mine||Client||Mining|
*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/