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Estimated Total Budget Pending (Project budget includes all project-funded activities)
Last Updated Date
May 4, 2024
Project Estimated Start Date
Jun 10, 2020
Project Estimated End Date
Project Estimated End Date Pending
Project Description
IFC is advising an experienced Chinese Small and Medium Enterprises ("SMEs") incubator, who also provides vocational training, to expand its operations into developing countries. The project is expected to improve vocational training, financial inclusion, job creation and gender equality in the selected countries.
Development Results
If successful, the project will contribute to address the lack of SME incubators in developing countries as well as increase the availability and quality of vocational training. This IFC engagement will facilitate the incubation of new SMEs in developing markets and the transfer of expertise from a successful incubator. Ultimately, the project shall foster the creation of new jobs in SMEs in selected markets.
Indicator
Cumulative
Value of financing facilitated (US$)
0
Number of strategic partners/investors identified
null
number of strategic partners/investors selected
null
Number of agreements (concession, etc.) signed
null
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
The overall risk level of this project is considered Low given the type of activities and the sectors in which the Client is involved. E&S risks of a single SME are generally limited but aggregated over more SMEs may become prominent. Risks might also come through the selected partner.
As part of its services, the Client explain to SMEs what permits are needed and how to obtain them. It is, therefore, important for the Client to familiarize with the Environmental, Health, Safety and Labor permits of the target country and sectors and ask to its SME clients proof that such licenses/permits have been obtained within a certain time frame. This will limit the Client's exposure to E&S risks through its support to SMEs. It is also recommended to screen the potential partners for E&S risks before suggesting partnerships to the Client.
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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