Regional Infrastructure Finance Facility (RIFF) Project (WB-P171967)

Regions
  • Africa
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • World Bank (WB)
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
A
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
Jun 18, 2020
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
Trade and Development Bank
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
  • Infrastructure
  • Technical Cooperation
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant, Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 425.00 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.
Loan Amount (USD)
$ 400.00 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.
Grant Amount (USD)
$ 25.00 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.
Project Cost (USD)
$ 425.00 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.
Bank Documents
Primary Source

Original disclosure @ WB website

Updated in EWS Jan 10, 2020

Disclosed by Bank Dec 9, 2019

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

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 bank documents, the Project Development Objective is to support the expansion of long-term finance to infrastructure and social sectors in Eastern and Southern Africa. The project has three components:

  1. Component 1 will seek to mobilize private investment by making available long-term infrastructure finance to firms. Infrastructure sectors here include: Energy, Logistics, Water and Sanitation, ICT/digital, and social infrastructure such as health, education and housing.
  2. Component 2 will provide financing for TDB to set up credit enhancement instruments to de-risk the sub-projects themselves, or to credit enhance TDB to mobilize greater amounts of private capital. Three different mechanisms are being explored to provide credit enhancement, i.e.: Partial credit guarantee fund set up by TDB; Tier 2 capital equivalent.
  3. Component 3, a US$25 million regional IDA grant, will be managed by the COMESA Secretariat to support the technical assistance and capacity building needs of the Project.
Investment Description
Here you can find a list of individual development financial institutions that finance the project.
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.

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.

World Bank:
Gabi George Afram, Caroline Marie Cecile Cerruti Hailey, Patrick Thaddayos Balla
Lead Financial Sector Economist

Borrower:
Trade and Development Bank (TDB)
Mr. Admassu Tadesse
President and Chief Executive Officer (CEO)
info@tdbgroup.org

Common Market for Eastern and Southern Africa (COMESA) Secretariat
Ms. Chileshe Mpundu Kapwepwe
Secretary General
info@comesa.int

Implementing Agencies
Trade and Development Bank (TDB)
Dr. Frannie Leautier
Chief Operating Officer (COO) /Executive Director, Asset Man
Frannie.Leautier@tdbgroup.org

Common Market for Eastern and Southern Africa (COMESA) Secretariat
Mr. Jean-Baptiste Mutabazi
Director of Infrastructure and Logistics
BMutabazi@comesa.int 

ACCOUNTABILITY MECHANISM OF WORLD BANK

The World Bank Inspection Panel is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by a World Bank-financed project. If you submit a complaint to the Inspection Panel, they may investigate to assess whether the World Bank is following its own policies and procedures for preventing harm to people or the environment. You can contact the Inspection Panel or submit a complaint by emailing ipanel@worldbank.org. You can learn more about the Inspection Panel and how to file a complaint at: http://ewebapps.worldbank.org/apps/ip/Pages/Home.aspx.

How it works

How it works