Kerala Infrastructure Investment Fund Board Green Capacity Building (IFC-606424)

Regions
  • South Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • India
Geographic location where the impacts of the investment may be experienced.
Specific Location
Kerala
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
Jul 7, 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
Kerala Infrastructure Investment Fund Board
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
  • Infrastructure
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)
$ 0.42 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 Nov 2, 2022

Disclosed by Bank Oct 31, 2022

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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.

According to IFC, the proposed project builds upon approach of the IFC Cities Platform model, providing tailored advisory support to the Kerala Infrastructure Investment Fund Board (KIIFB). It is one of IFC’s first such engagements in India and reflects the importance of supporting the greening of local infrastructure by engaging with subnational entities, including municipalities and cities, as well as state-level entities.

The project covers the following components:

- Component 1 - E&S Capacity Building: IFC will help improve KIIFB’s capacity to address environmental and social (E&S) risks. This includes the assisting in the development of Environmental and Social Management Plans (ESMPs) and Environmental and Social Management Systems (ESMSs), including gender-based violence and harassment (GBVH), a building code compliance review and a chlorine leak risk assessment for water treatment plants.

- Component 2 - Green Finance Framework: IFC will accompany KIIFB in designing a Green Finance Framework to help it attract green financing and support KIIFB on getting a second opinion on the framework to confirm alignment with the Green Loan Principles and Green Bond Principles. A Green Finance Framework and its application can demonstrate to the market the integrity of KIIFB in and commitment towards green financing by establishing transparent guiding principles for the selection and evaluation of projects.

- Component 3 - Resilience: IFC will help mainstream climate resilience considerations into KIIFB’s operations. Amongst others, this will be achieved through helping the development of an overarching Climate Resilience Policy, promoting the inclusion of climate resilience information into KIIFB’s project appraisal and funding process, conducting a series of general climate and sector-specific trainings to engineering teams, as well as developing a climate information depository.

IFC also provides advice to facilitate the certification of several hospitals as green buildings, using IFC’s own certification tool EDGE and a third-party certification process. Related activities are led by IFC’s EDGE Green Buildings Program and through a separate project.

The overarching objectives of the project are as follows: IFC aims to help KIIFB strengthen its Environmental & Social risk management practices, in line with IFC’s Performance Standards. Moreover, IFC aims to build KIIFB’s capacity for financing green and resilient infrastructure projects in the future. This includes helping KIIFB integrate climate resilience considerations into its project pipeline, as well as helping it to develop a Green Finance Framework in line with international good practices. Overall, it is thus expected that the project will help send a strong market signal that Green financing is possible at the State level in India. It will further help KIIFB establish itself as the primary state vehicle for funding green/climate-compatible and resilient infrastructure in Kerala State.

 

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

KIIFB is the designated primary entity for financing all large public infrastructure projects in Kerala, with a major portion of its pipeline allocated to urban infrastructure. In addition to financing, KIIFB also has a mandate to appraise projects and oversee construction, whilst the projects themselves are implemented and operated by other State agencies and related entities.


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 details provided 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