Early Warning System

Uganda CRB Access to Finance for the underserved (IFC-606927)

Countries

Uganda

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

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 1, 2022

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 Uganda

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Agriculture and Forestry
Finance
Law and Government

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)

$ 0.77 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 Jul 10, 2023

Disclosed by Bank Jun 29, 2023

Contribute Information
Can you contribute information about this project?
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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 the IFC, the project aims to expand access to finance for smallholder farmers, MSMEs and refugees which are undeserved, by strengthening the credit information ecosystem and supporting financial institutions to make data driven lending decisions through the following sequenced interventions:
(i) Expand credit information sharing perimeter by onboarding of non-bank financial institutions;
(ii) Promote adoption and usage of alternative data for credit decision making and portfolio performance monitoring through capacity building support and regulatory reforms;
(iii) Promote the optimal usage of credit information sharing system through a capacity building support to regulators, lenders and consumers;
(iv) Support the unique identification of borrowers by helping bureaus to migrate from financial card to the National ID; and
(v) Support regulators to crisis proof the credit information sharing systems.

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

International Finance Corporation (IFC)

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.

Implementing Agency - Ministry of Finance, Planning, and Economic Development:

Address: Plot 2-8, Apollo Kaggwa Road, P.O Box 8147 Shimoni Rd 1, Kampala, Uganda
Email: finance@finance.go.ug
Website: https://www.finance.go.ug/

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

Project Description

Investment Description

Contact Information

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