GTLP SCB V (IFC-47186)

Regions
  • World
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
Oct 31, 2022
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
Standard Chartered Bank
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 Amount (USD)
$ 350.00 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 Oct 24, 2022

Disclosed by Bank Sep 23, 2022

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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.

The proposed investment is a funded 50-50% risk-sharing facility with Standard Chartered Bank in a portfolio of trade-related assets for up to US$700 million with IFC investment of up to US$350 million (the “Project”). The project falls under the GTLP program, an innovative and well-received trade finance program launched in 2009. GTLP has proven to be a highly effective means to channel financing to support emerging market trade flows. The program provides liquidity or guarantees thereby helping banks grow their credit limits, manage risk and support trade in the Emerging Markets.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
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.

Headquartered in London, Standard Chartered Bank is a global bank with an emerging market focus that leverages its expertise via a presence in 59 markets and its network that serves customers in close to 150 markets worldwide. Standard Chartered Bank is listed on the London and Hong Kong Stock Exchanges. The group serves two client segments - Corporate, Commercial & Institutional Banking (CCIB) supports larger companies and institutions, and Consumer, Private & Business Banking (CPBB) focuses on individual and business banking clients – in three regions – Asia, Africa and Middle East, Europe and the Americas – including some of the world’s fastest growing economies.

Standard Chartered ordinary shares are listed on the London Stock Exchange and Hong Kong Stock Exchange and ranks among the top 30 companies in the FTSE-100 by market capitalization.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Standard Chartered Client -
- - - - Standard Chartered Bank Undisclosed -

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.

Nicolas Langlois, Managing Director - Transaction Banking

Standard Chartered Bank (Singapore) Limited

Marina Bay Financial Center, Tower 1, Level 22,

8 Marina Boulevard, Singapore 018981       

Email:    Nicolas.Langlois@sc.com

 

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

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How it works