Towards Energy Savings Insurance (ESI) for private energy efficiency investments by Small and Medium (IADB-ES-T1258)

Countries
  • El Salvador
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Inter-American Development Bank (IADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
C
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."
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 1.70 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.
Other Related Projects
Primary Source

Original disclosure @ IADB website

Updated in EWS Dec 15, 2017

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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.
From the IADB: The main objective of this technical cooperation is to support the design of the operation ES-L1132 by addressing technical and informational barriers and other real or perceived risks that have prevented the supply of and the demand for financing for EE investment projects. In particular, it will support the design of: (i) specific operational instruments, mechanisms and systems that would not only make viable the implementation of the financing strategy for energy efficiency projects for El Salvador's firms , but would also reassure relevant market players that the risks that they are assuming are acceptable; (ii) specific risk transfer instruments that could encourage the participation of key market players (e.g. Industry associations and firms, energy efficiency service providers, technology providers, local financial intermediaries, insurance companies, etc.) in the program; (iii) methodological approaches and protocols to monitor and validate results / benefits of the financing line (i.e. reduction of energy use and GHG emission reductions); and (iv) technical support on EE to BANDESAL for the detailed design of the financing strategy, the coordination of relevant stakeholders and the dissemination and promotion of the program.
Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Financed through the Green Climate Fund.

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.
ACCOUNTABILITY MECHANISM OF IADB The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IIC)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IIC is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).

How it works

How it works