OECS MSME Guarantee Facility Project (WB-P157715)

Regions
  • Latin America and Caribbean
Geographic location where the impacts of the investment may be experienced.
Specific Location
Eastern Caribbean Countries
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
  • 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
Active
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
Jul 5, 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
Regional
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Industry and Trade
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.
Investment Amount (USD)
$ 10.00 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)
$ 12.00 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 Jul 16, 2024

Disclosed by Bank Jul 19, 2016

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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 development objective of the Micro, Small and Medium-Sized Enterprise (MSME) Guarantee Facility Project for OECS Countries is to facilitate additional financial intermediation for MSMEs by supporting the establishment of a regional partial guarantee corporation. It has two project components. First component, Capitalize the Partial Credit Guarantee Fund will support the capitalization of the Credit Guarantee Fund (CGF) for the provision of Partial Credit Guarantee Scheme (PCGs) to participating lenders (PLs). Second component, Project Management, Operating Costs, and Lender Training will support the Eastern Caribbean Partial Credit Guarantee Corporation (ECPCGC), which is responsible for the coordination, implementation, and supervision of the project. The project will finance, among others: (a) the recruitment and training of the ECPCGC team members; (b) training of loan officers at the Eastern Caribbean Currency Union (ECCU) supervised lenders; (c) the acquisition of goods such as equipment, software, and furniture for the ECPCGC; (d) monitoring and evaluation (M&E) activities; (e) the financing of operating costs; and (f) the carrying out of minor works for the installation of any necessary computer hardware and minor refurbishing works of office facilities. The funds under this component will also be used to cover the annual audits of the firm’s activities, which are required by the ECPCGC Agreement. It will be important to review the contractual arrangements for the audit, including the terms of reference.

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.

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