Fortification Advisory Services with Performance Based Grant (IFC-607013)

Countries
  • Bangladesh
  • Ethiopia
  • Guinea
  • Sudan
  • Uganda
  • Vietnam
  • Yemen
Geographic location where the impacts of the investment may be experienced.
Specific Location
Bangladesh, Ethiopia, Guinea, Sudan, Uganda, Vietnam, Yemen and others
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
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
Feb 9, 2024
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
  • 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)
$ 3.50 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)
$ 3.50 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 13, 2025

Disclosed by Bank Sep 30, 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, this project proposes a three-year performance-based grant and food fortification advisory project to support private lead firms in the targeted countries – Bangladesh, Ethiopia, Guinea, Sudan, Uganda, Vietnam, Yemen and others – to increase the adoption of food fortification by food processors already in IFC’s investment portfolio or in the immediate pipeline, particularly in unregulated markets, and share knowledge and build sector capacity worldwide.

At the same time, the project will make meaningful contributions to reducing operational risks and explore the role that women play in promoting food fortification interventions in the respective industries where clients operate and build a better business environment by engaging clients in the broader food fortification and nutritional improvement capacity building agenda of the World Bank Group and other development partners towards regulatory and sector reforms.

Objective 1: Implement and adopt changes to client product offerings by starting or expanding food fortification production lines by providing performance-based grants to IFC investee clients in unregulated markets to offset a share of initial investment costs as demonstrated by increasing sales and volumes of fortified foods sold.

Objective 2: Use food fortification advisory as a lever to improve the performance and efficiency of engaged lead firms as demonstrated by: a) sales and volumes of fortified foods sold, b) reducing costs and/or c) reducing the risk profiles (as measured by the number of implemented recommended changes/adopting improved food fortification practices and gender-smart practices).

Objective 3: Knowledge management, sharing and sector capacity building to promote improved food fortification practices in the targeted countries by: a) raising awareness on the business benefits of better food fortification and nutrition through domestic and regional events, b) developing training packages, providing training for local service providers to develop a cadre of experts who can support industry clients in the future, and (c) share knowledge and support with at least two IFC and/or WBG projects to further amplify the impact of IFC nutritional improvement interventions and to disseminate and further promote the adoption of improved food fortification practices in the sector

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

Estimated Total Budget: $3,500,000.00 (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