MAURITIUS - Economic Competitiveness and Resilience Support Program (ECRSP) (AFDB-P-MU-K00-009)

Countries
  • Mauritius
Geographic location where the impacts of the investment may be experienced.
Specific Location
Port Louis, and others
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • African Development Bank (AFDB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
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
Mar 29, 2023
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
Government of Mauritius
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Agriculture and Forestry
  • Climate and Environment
  • Energy
  • Industry and Trade
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Loan Amount (USD)
$ 245.62 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Investment Amount (USD)
Not Disclosed
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ AFDB website

Updated in EWS Oct 6, 2023

Disclosed by Bank May 16, 2023


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 provided information, the overarching objective of the proposed operation is to enhance economic diversification and competitiveness with a view to strengthening resilience and achieving more inclusive and sustainable growth. It will help to address diminishing productivity and competitiveness which has led to Mauritius losing a significant share of its export market due to failure to sufficiently scale up to more complex new exports. It is a multi-sector program covering agro-industry, fisheries, SME development, energy, climate change and low carbon economy. It will support the Government's economic policies through wide-ranging climate-friendly business environment and real sector reforms.

According to the project appraisal documents, the program activities will be:

The ECRSP will contribute to the Government’s objective of Enhancing Green Recovery and Climate Resilience by supporting two subcomponents, (a) Accelera to transition to Clean Energy and (b) Strengthening environmental governance.  Several measures are envisaged in 2022/23 for the subcomponent of Accelerating the transition to Renewable Energy:
(1) Roll out of the carbon neutral industrial sector renewable energy loan scheme (Prior Action), aimed at providing a viable option for industrial companies to invest in renewable energy power generation, especially solar and wind, for their own consumption;
(2) National Biomass Framework approved by Government, which aims to examine the availability and energy potential from different sources of biomass that can be
considered to help achieve production of 60 % energy from renewable sources by 2030, gradually phasing out the use of coal; and
(3) Revised Renewable energy roadmap 2030 approved by the Government and Implementation Committee.
Investment Description
Here you can find a list of individual development financial institutions that finance the project.

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.

AfDB Team Leader:

Baboucarr Koma
Email:
b.koma@afdb.org 

Borrower - Ministry of Finance, Economic Planning and Development:

Website: https://mof.govmu.org/Pages/default.aspx

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.afdb.org/en/disclosure-and-access-to-information/request-for-documents. Under the AfDBÕs Disclosure and Access to Information policy, if you feel the Bank has omitted to publish information or your request for information is unreasonably denied, you can file an appeal at https://www.afdb.org/en/disclosure-and-access-to-information/appeals-process 

ACCOUNTABILITY MECHANISM OF AfDB

The Independent Review Mechanism (IRM), which is administered by the Compliance Review and Mediation Unit (CRMU), is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an African Development Bank (AfDB)-financed project. If you submit a complaint to the IRM, it may assist you by either seeking to address your problems by facilitating a dispute resolution dialogue between you and those implementing the project and/or investigating whether the AfDB complied with its policies to prevent environmental and social harms. You can submit a complaint electronically by emailing crmuinfo@afdb.org, b.kargougou@afdb.org, b.fall@afdb.org, and/or s.toure@afdb.org. You can learn more about the IRM and how to file a complaint at: https://www.afdb.org/en/independent-review-mechanism/ 

How it works

How it works