Upstream Advisory Support for Private Clients in Waste Mgmt (IFC-607787)

Countries
  • India
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 24, 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
Karo Sambhav Private Limited (KSPL); GPS Renewables; and other
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Infrastructure
  • Water and Sanitation
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)
$ 0.65 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)
$ 0.65 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 16, 2023

Disclosed by Bank May 31, 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.

According to the Bank’s website, as part of the proposed upstream engagement, IFC will jointly work with three private sector entities working in the field of waste management to provide them with upstream advisory support as follows:

1) Karo Sambhav Private Limited (KSPL):

KSPL is a multi-sectoral organization solving complex waste problems in sectors of electronics, plastics, batteries, and glass. The approach of the entity is to have a robust waste collection system at grass root levels, integrating the informal sector, and using technology to scale, while ensuring traceability and transparency. As part of the proposed upstream engagement, IFC and KSPL will jointly finalize the business plan and financing plan for KSPL, evaluate technology for establishment of recycling plant and develop the E&S framework, so that the company is investment ready. This engagement will be undertaken under IFC’s Circularity Plus Platform.

2) GPS Renewables:

GPS is a leading biofuels technology and EPC firm specializing in the production of compressed biogas from agricultural residue, press mud and municipal waste in India. As part of the proposed upstream engagement, IFC and GPS will jointly evaluate the potential to scale up the establishment of bio-gas plants in four clusters as an alternative to natural gas in order to support industrial decarbonization. In this regard, IFC and GPS will undertake studies to determine offtake demand for compressed biogas and assess techno-commercial viability of project (including feedstock identification, waste characterization, financial viability assessment, primary supply chain risk base screening, other key E&S risks to be considered by the client in the site selection and project development). This engagement will be undertaken under IFC’s Circularity Plus Platform.

3) Entity 3: IFC will identify and jointly work with one more private entity in undertaking project preparatory activities such as techno-commercial feasibility studies/ financial structuring plans etc. for developing waste processing projects (waste to energy, bio-methanation, bio-mining etc.) from different waste streams.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - GPS Renewables Client -
- - - - Karo Sambhav Private Limited (KSPL) Client -

Contact Information
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No contact information provided at the time of disclosure.

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ACCOUNTABILITY MECHANISM OF IFC/MIGA

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How it works

How it works