Original disclosure @ IFC website
Updated in EWS Apr 16, 2020
Disclosed by Bank Apr 9, 2020
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The objective of this project is to assist Vista Bank Group in increasing access to finance opportunities for local SMEs by strengthening its strategy and credit capabilities. Improved banking services for SMEs will drive greater financial inclusion and increased financing for SMEs will lead to greater job creation and contribution by SMEs to the region’s economy.
IFC will support Vista Bank Group in in Guinea, The Gambia and Sierra Leone with an SME Banking project covering the following modules: Business Strategy & Model, Credit Risk Management, Products & Services, Sales & Distribution and SME Bankers Training.
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.
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/