SME Skills Development COVID 19 Response Sri Lanka (IFC-605886)

Countries
  • Sri Lanka
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
Approved
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
Jun 15, 2021
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
Borrower not available at the time of disclosure.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
  • Industry and Trade
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)
$ 0.87 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)
$ 0.87 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 12, 2024

Disclosed by Bank Jan 8, 2024

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

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’s website, the project will seek to develop, launch and implement a program in Sri Lanka aimed at improving the capacity of Financial Institutions, and thus support Sri Lanka financial sector clients in delivering high-quality skills-building services (business management) to their client Micro Small and Medium Enterprises as a COVID-19 response project. The project will be centered around three activities:

Activity 1: Localize the IFC's Principles for Learning and the Guide to Training. The IFC's Principles for Learning will be translated to the Sri Lankan context, including the supplement on gender inclusion, through a participatory approach jointly with Financial Institutions.

Activity 2: The project will seek to increase the number of qualified training providers to ensure that the supply of quality-assured learning specialists meets the local demand. To enable this, the project will build the capacity of learning specialists in Sri Lanka through the IFC collaboration with The Learning and Performance Institute (LPI), a leading authority on learning and workplace development. The Trainer Performance Monitoring and Assessment (TPMA) certification is an internationally recognized certificate of training competence which is offered through the IFC and LPI partnership.

Activity 3: Deliver high-quality advisory services to 10,000 MSME clients with at least two financial institutions. This will make use of the network of Financial Institutions to deliver online and, where applicable, classroom-based learning solutions for 10,000 MSMEs, of which at least 35% should be women. The project will seek to identify an existing trade chamber to reach MSMEs that may be outside the existing reach and can act as a channel for enabling banking relationship for qualified MSMEs.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Estimated Total Budget: $873,000.00

 

(Project budget includes all project-funded activities)

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 contacts available at the time of disclosure.

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