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$110,987.00 (Project budget includes all project-funded activities)
Last Updated Date
Jun 12, 2021
Project Estimated Start Date
May 1, 2018
Project Estimated End Date
Oct 31, 2019
Project Description
As the largest commercial bank in Papua New Guinea, BSP has continuously exposed to transactions with medium-high and high E&S risks. The project aims to strengthen Bank of South Pacific (BSP)'s Environmental & Social (E&S) risk management practice.
Development Results
Through the project, Bank of South Pacific (BSP) will apply international best-practices in its Environmental & Social (E&S) risk management, which will result to increase the bank's market competitiveness in participating in large / complex transactions.
Indicator
Calendar Year 2020 Results
Cumulative Results as of 2020
Number of participants in workshops, training events, seminars, conferences, etc.
Not Available
91
Number of participants reporting satisfied or very satisfied with workshops, trainings, seminars, conferences, etc.
Not Available
91
Number of procedures/firm-level policies/practices/standards recommended for improvement or elimination
Not Available
7
Number of workshops, training events, seminars, conferences, etc.
Not Available
4
Number of recommended procedures/firm-level policies/practices/standards that were improved or eliminated
Not Available
4
E&S Risks / Impacts and Mitigation
Performance Standard
Description & Potential Impact
Mitigation
PS 1. Assessment and Management of Environmental and Social Risks and Impacts
IFC is in the process of continuing the Technical Advisory to support the development and implementation of the E&S management system to incorporate the relevant principles of Performance Standard 1 on Assessment and Management of Environmental and Social Risks and Impacts
IFC team continues to provide advice under the Technical Advisory project consistent with relevant Performance Standards and has made recommendations for appropriate mitigation measures
Press-Release
Additional Documents
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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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