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.
Estimated Total Budget Pending (Project budget includes all project-funded activities)
Last Updated Date
May 4, 2024
Project Estimated Start Date
Jan 31, 2021
Project Estimated End Date
Jun 30, 2022
Project Description
IFC will provide transaction advisory support to the Ministry of Economy and Environment in developing a 50 MW solar power PPP project, through an open and competitive tender process.
Development Results
A successful implementation of the project is expected to secure lower cost solar energy compared to the current FiTs, increase the renewable energy produced in the country, and lead to a reduction in GHG emissions.
Indicator
Cumulative
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's Sustainability Policy, the IFC team has screened this Project to assess consistency with IFC's Performance Standards.
IFC's advice will be provided in a manner consistent with the principles of the relevant Performance Standards. The IFC team will assist the Client as the final decision maker in gaining a good understanding of IFC's Performance Standards.
PS 2. Labor and Working Conditions
As part of its Due Diligence, and as mandated by IFC's Sustainability Policy, IFC will screen this project for risk(s) related to PS2 against IFCs Performance Standards. Risks and mitigation measure will be confirmed during IFCs Due Diligence process.
IFC's advice will be provided in a manner consistent with the principles of PS2. The IFC team will advise the client, as the final decision maker, on IFC's Performance Standards and in defining appropriate mitigation measures.
PS 3. Resource Efficiency and Pollution Prevention
As part of its Due Diligence, and as mandated by IFC's Sustainability Policy, IFC will screen this project for risk(s) related to PS3 against IFCs Performance Standards. Risks and mitigation measure will be confirmed during IFCs Due Diligence process.
IFC's advice will be provided in a manner consistent with the principles of PS3. The IFC team will advise the client, as the final decision maker, on IFC's Performance Standards and in defining appropriate mitigation measures.
PS 4. Community Health, Safety and Security
As part of its Due Diligence, and as mandated by IFC's Sustainability Policy, IFC will screen this project for risk(s) related to PS4 against IFCs Performance Standards. Risks and mitigation measure will be confirmed during IFCs Due Diligence process.
IFC's advice will be provided in a manner consistent with the principles of PS4. The IFC team will advise the client, as the final decision maker, on IFC's Performance Standards and in defining appropriate mitigation measures.
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.
The map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Country borders or names do not necessarily reflect the World Bank Group's official position. In some cases, available project location information is limited to the country of the project's activities. Locations are approximate.