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$320,573.00 (Project budget includes all project-funded activities)
Last Updated Date
Aug 7, 2024
Project Estimated Start Date
Jun 2, 2022
Project Estimated End Date
Dec 31, 2024
Client Legal Name
ESQUIRE FINANCING INC
Project Description
The project aims to create a robust institutional environment to support EFI’s sustainable and healthy growth by strengthening the readiness of the client’s organization-wide risk management framework, optimizing its credit risk management capabilities and operations as well as adoption of market best practices.
Development Results
Through this project, IFC will support the client in assessing and developing an enhanced risk
management framework, including a practical roadmap for development with prioritized action areas to address challenges related to credit, operational, capital, liquidity risk, and NPLs to become a more resilient institution, and in turn play a part in post-pandemic recovery.
Indicator
Cumulative
Number of recommended procedures/firm-level policies/practices/standards that were improved or eliminated
3
Number of participants in workshops, training events, seminars, conferences, etc.
66
Number of procedures/firm-level policies/practices/standards recommended for improvement or elimination
6
Number of reports (assessments, surveys, manuals, Phase I/strategic option reports, research, analytical, evaluations, etc.) completed
2
Number of workshops, training events, seminars, conferences, etc.
6
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 will screen the project to assess consistency with IFCs Performance Standards. Environment 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 in gaining a good understanding of IFCs Performance Standards and provide recommendations for appropriate mitigation measures whenever warranted.
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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