OECS MSME Guarantee Facility Project (WB-P157715)

Regions
  • Latin America and Caribbean
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
Approved
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jul 5, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Regional
The holder of the loan, grant, or other investment.
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, etc.
Investment Amount (USD)
$ 10.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. 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, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ WB website

Updated in EWS Aug 17, 2018

Disclosed by Bank Jul 19, 2016


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Project 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
  • World Bank (WB)
Contact Information

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.