BRED Cambodia (IFC-39331)

Countries
  • Cambodia
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
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
FI
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
Jan 26, 2018
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
BRED BANK (CAMBODIA) PLC
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Project Cost (USD)
$ 15.00 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 Dec 15, 2017

Disclosed by Bank Dec 5, 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.
According to the IFC website, the proposed project consists of an equity investment in BRED Bank (Cambodia) Plc. ("BRED Cambodia" or the "Bank"), a greenfield bank established as a subsidiary of BRED S.A. ("BRED" or the "Sponsor"), part of BPCE Group. Expected development impacts: Improved access to finance: The Project will contribute to an increase in access to finance for SMEs through the Bank's targeted products & services. The Bank will also provide access to financial services through the mobilization of deposits. Support to the banking sector: The Project will send a strong signal that IFC continues to support the banking sector in Cambodia, and will contribute to the improvement of corporate governance, risk assessment, E&S procedures.
Investment Description
Here you can find a list of individual development financial institutions that finance the project.
The investment will be in the form of common shares with an ownership in BRED Cambodia of up to 20% for a total amount of up to US$15 million.
Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.
BRED is part of the Groupe Banque Populaire Caisse d'Epargne ("BPCE"), the second largest banking group in France. BRED is the largest cooperative bank of BPCE, established in the Greater Paris region, Normandy, and Overseas French departments. It has a strong franchise in the SME and entrepreneurs segment in France. BRED belongs to its 150,000 cooperative shareholders-customers .
Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Groupe Banque Populaire Caisse d'Epargne - BPCE Parent Company -

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.
BRED Cambodia Guillaume Perdon CEO guillaume.perdon@bredcambodia.com 30 Boulevard Norodom, Phnom Penh ACCOUNTABILITY MECHANISM OF IFC 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/

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How it works