Peru Investment Policy and Promotion (IFC-604537)

Countries
  • Peru
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
Jan 25, 2020
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
Government of Peru
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Industry and Trade
  • Technical Cooperation
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Advisory Services, Grant
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 0.67 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)
$ 0.67 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 Apr 7, 2021

Disclosed by Bank Mar 16, 2021

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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.

Peru's Investment Policy and Promotion project focuses on supporting the Government of Peru in designing a more efficient investment policy and promotion framework based on two analytical pillars to guide the effectiveness of policies related to investment. The first pillar is the investment lifecycle, which sees FDI as a dynamic relationship with the host economy, and not merely as a one-time transaction. This view corresponds to an investment policy and promotion framework capable of addressing issues along various stages of the relationship between foreign investors and the host economy, including FDI attraction, entry and establishment, expansion, and linkages with the domestic economy. The second pillar is the investment typology, which sees FDI as a heterogenous phenomenon, which can be broadly categorized along four types (natural resource-seeking, efficiency-seeking, domestic market-seeking and strategic asset-seeking).

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

The Objective t is to assist the National Government, through its implementing agency PROMPERU, in creating and strengthening the institutional framework by means of creating a Direction of Foreign Investments which will identify private investment barriers and better understanding the role of existing investment incentives in attracting and retaining foreign investors. The assistance on this area, in close coordination with existing IFC projects, will enable private investment growth in new markets and sectors, diversifying FDI inflows away from traditional sectors/locations and generating an overall increase in investments materializing in Peru. The 10M target will be generated via 8 leads, targeted by Promperu’s Investment Promotion Directorship, and 4 commitments to invest in Peru.

Programmatic approach: Given that this is a child project that stems off the Peru Growth Umbrella project, this child project will work jointly with the other 3 initiatives (Subnational Doing Business Peru, Investment Promotion Policy and Competition Policy). 

People Affected By This Project
People Affected By This Project refers to the communities of people likely to be affected positively or negatively by a project.

Not available

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.

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

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