IESG Kenya IESG Kenya MAS and Affordable Housing (IFC-607344)

Countries
  • Kenya
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
Mar 21, 2023
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 Kenya
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Agriculture and Forestry
  • Construction
  • Finance
  • Industry and Trade
  • Law and Government
  • Technical Cooperation
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)
$ 0.90 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 Jun 26, 2023

Disclosed by Bank Jun 6, 2023

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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.

The project focuses on supporting Kenyan industry associations, market intermediaries and private sector entities, predominantly in the agribusiness, manufacturing and affordable housing sectors on the improvement of ESG standards and uptake of good ESG practices. It will conduct activities across three components:
(1) ESG Guidelines Development: IFC will support the National Environmental Management Agency to support them in developing ESG guidelines to be implemented on voluntary basis by private sector entities operating in priority sectors. The guidelines aim to provide guidance to the private sector in adopting good environment and social risk management as well as good corporate governance practices.
(2) Build market demand and capacity: IFC will raise awareness on the importance and business case for good ESG risk management practices. It will also develop a training course to equip private sector participants with foundational knowledge on ESG.
(3) Provide hands on support to individual firms: in-depth and customized advice to IFC potential and existing investees which may include diagnostics/assessments, training, development of ESG policies and guidance on implementation of good ESG practices in alignment with the IFC Performance Standards and Corporate Governance methodology.

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.

Executing Agency - National Environmental Management Agency:

Address: Popo Road,South C, off Mombasa Road, National Environment Management Authority, 67839-00200, Nairobi
Fax: +254-020-6008997
Phone: +254 020-2101370 / +254 020-2183718
Email: dgnema@nema.go.ke
Website: https://www.nema.go.ke/

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