Accelerate Sustainable Investment in Europe (IFC-609182)

Regions
  • Europe and Central Asia
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
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
Oct 23, 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.
Sectors
  • Finance
  • 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)
$ 3.95 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)
$ 3.95 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 Sep 15, 2025

Disclosed by Bank Sep 8, 2025

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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 program aims to support financial institutions and companies in moving towards greater alignment with international environmental, social, and governance (ESG) standards, particularly the IFC Performance Standards and Corporate Governance Methodology, as well as the European Union’s Green Agenda. It also seeks to contribute to the alignment of national frameworks with these and other internationally recognized standards and best practices, fostering consistency, transparency, and sustainable economic growth.

The Program will take a comprehensive, three-pronged approach to strengthening environmental, social, and governance (ESG) practices across firms, markets, and regulatory frameworks in selected countries, with a predominant focus on building capacity at the firm and market levels. By working simultaneously with companies, financial institutions, market intermediaries, and regulators, the Program aims to create lasting improvements in sustainability performance, unlock investment opportunities, and align local practices with international standards.
At the firm level, the Program will help companies and financial institutions improve their ESG performance through targeted diagnostics, training, and advisory support through an ESG Accelerator and/or individual engagements, which is expected to result in their improved ESG performance and facilitate IFC financing.

At the market level, the Program will build the capacity of local intermediaries—such as consulting companies, training institutions, industry associations, and professional networks—to deliver high-quality ESG advisory services. By embedding knowledge and skills locally, the Program will help ensure that ESG capacity building continues after the Program ends, while also promoting IFC’s thought leadership and supporting gender diversity and inclusion in corporate leadership.

At the regulatory level, the Program will collaborate with regulators, including central banks, stock exchanges and capital market authorities, to promote better ESG standards in the market.

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.

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