According to the Bank's website, this project finances a risk-sharing facility between IFC and Sumitomo Mitsui Banking Corporation Group in a portfolio of up to US$500 million of senior loans that the borrower will provide to banks in the Europe and Central Asia region. 

This project is categorised FI-3; a low risk financial institution investment. 

The proposed project is expected to provide financing to key financial intermediaries in the ECA region. Indirectly, this increased capacity will also improve the availability of credit to local producers and importers along the value chain and in a wide variety of sectors. IFC's support is much needed in the region to help financial intermediaries build capacity for their funding needs.

The project will be in a total amount up to US$500 million. Sumitomo Mitsui Banking Corporation Group will retain at least 50% of the total portfolio exposure, while IFC and its program partners will take the risk of the remaining 50% or up to US$250 million.

There is often limited information publicly available about what development banks are funding through financial intermediaries. In 2021, the Early Warning System partnered with Oxfam International to incorporate information on high-risk projects being funded by financial intermediaries receiving funding from the International Finance Corporation (IFC) and the Dutch Development Bank (FMO).

The information listed below describes the relationship between the different private actors linked to high-risk sectors and subprojects of IFC and FMO's financial intermediary investments and/or the financial intermediary's parent companies made from 2017 through 2020, including any associated ring fences.

The database, however, does not explicitly or implicitly imply that IFC or FMO have material exposure to or are contractually or legally accountable to the sub-projects financed by their financial intermediaries or the financial intermediary's parent companies. It only shows a seemingly financial relationship among the different private actors, the financial intermediaries, and IFC or FMO.

An extended list of private actors is available in a separate file. 

No contact information available at time of writing. 

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/