Owned by 186 member countries and consistently rated AAA/Aaa. IFC aims to achieve our mission of promoting development by providing debt and equity to the private sector, through a range of benchmark and bespoke products.
$3,202,500.00 (Project budget includes all project-funded activities)
Last Updated Date
Jun 12, 2021
Project Estimated End Date
Dec 31, 2015
Project Description
The Program consists of 3 components:
Component 1. Introduce and build capacity of FIs for SEF lending.
Component 2. Build awareness, demand and market infrastructure for SEF in Azerbaijan, Moldova and Serbia.
Component 3. Pilot for E&S risk management practices in Russia.
Development Results
The overall goal of the Program is to improve access to finance for sustainable energy investments, in order to increase competitiveness and address climate change issues in ECA. The ECA SEF program will seek to establish SEF products in the private sector by working with client banks, investment and advisory services clients across the region, and supporting the development via roll out of financially viable sustainable energy finance lending products through local financial institutions.
In order to achieve this objective the ECA SEF Program will focus on two main components:
1. Create capacity of banks in ECA region for SEF lending, with an emphasis on potential investment clients.
2. Strengthen the local sustainable finance markets through awareness building campaigns.
The Program will also introduce Environmental & Social (E&S) risk management practices on a pilot basis.
Indicator
Calendar Year 2020 Results
Cumulative Results as of 2020
Number of copies of project materials distributed or downloaded
Not Available
1,947
Number of participants in workshops, training events, seminars, conferences, etc.
Not Available
713
Number of participants providing feedback on satisfaction
Not Available
301
Number of participants reporting satisfied or very satisfied with workshops, trainings, seminars, conferences, etc.
Not Available
296
Number of procedures/firm-level policies/practices/standards recommended for improvement or elimination
Not Available
4
Number of workshops, training events, seminars, conferences, etc.
Not Available
54
Number of entities receiving advisory services
Not Available
6
Number of media appearances
Not Available
53
Number of new financial products designed
Not Available
6
Number of entities that implemented recommended changes
Not Available
5
Number of new financial products launched
Not Available
6
Number of loans disbursed
Not Available
273
Number of recommended procedures/firm-level policies/practices/standards that were improved or eliminated
Not Available
3
Value of financing facilitated (US$)
Not Available
919,455,022
E&S Risks / Impacts and Mitigation
Performance Standard
Description and Potential Impact
Mitigation
PS 1. Assessment and Management of Environmental and Social Risks and Impacts
As part of its Due Diligence, and as mandated by IFC Sustainability Policy, IFC team has screened this project to assess consistency with IFC's Performance standards using the principles of PS1 - Assessment of Environmental and Social Risks and Impacts and to identify potential environmental and social risks. Performance Standard 3, Resource efficiency and pollution prevention, has been identified as relevant to this project. Environmental and social risks will be further reviewed throughout the life-cycle of the project
IFC advice will be provided in a manner consistent with the principles of the relevant Performance Standards. The IFC team will assist the client, as final decision maker, in gaining a good understanding of IFC's Performance Standards. IFC will provide recommendations for appropriate mitigation measures whenever warranted and updates on any applicable recommendations will be provided annually.
PS3. Resource Efficiency and Pollution Prevention
As part of its Due Diligence, and as mandated by IFC Sustainability Policy, IFC team has screened this project to assess consistency with IFC's Performance standards using the principles of PS1 - Assessment of Environmental and Social Risks and Impacts and to identify potential environmental and social risks. Performance Standard 3, Resource efficiency and pollution prevention, has been identified as relevant to this project. Environmental and social risks will be further reviewed throughout the life-cycle of the project.
IFC advice will be provided in a manner consistent with the principles of the relevant Performance Standards. The IFC team will assist the client, as final decision maker, in gaining a good understanding of IFC's Performance Standards. IFC will provide recommendations for appropriate mitigation measures whenever warranted and updates on any applicable recommendations will be provided annually.
Press-Release
Additional Documents
Similar Projects
This Summary of Advisory Services Project Information (ASPI) is prepared by IFC to disclose a factual summary of the main elements of this advisory services project. It may also include findings and recommendations related to environmental and social considerations regarding this project. The purpose of the ASPI is to enhance the transparency of IFC's activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the client. IFC considers that this ASPI is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed within sixty days of project's approval and may be updated periodically afterwards. Total budget and start dates are estimates only. The following ASPI is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.
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