608290 - Mozambique Insolvency and Debt Resolution

Who We Are
Who We Are

IFC is the largest global development institution focused on the private sector in developing countries. By encouraging growth, IFC advances economic development, creates jobs and improves the lives of people.
More About Us
About IFC

Our Leadership

Development Partners
Accountability

Learn more about accountability
Annual Report

Download the Report
What We Do
What We Do

IFC advances economic development and improves the lives of people by encouraging the growth of the private sector in developing countries. We achieve this by investing in impactful projects, mobilizing other investors, and sharing expertise.
What We Do Overview
SOLUTIONS

Our products and services
OUR PRIORITIES

Climate Business

Fragile & Conflict Afflicted Situations

Gender

Mobilizing Private Capital

Sustainability
SECTORS & EXPERTISE

Agribusiness & Forestry

Creative Industries

Education

Financial Institutions

Funds

Health

Infrastructure

Manufacturing

Public-Private Partnerships

Tourism, Retail & Property

Trade & Supply Chain Finance

Venture Capital

Working Upstream
Where We Work
Where We Work

As the largest global development institution focused on the private sector, IFC operates in more than 100 countries around the globe. We apply lessons learned in one region to solve problems in another.
Overview
By Region

Africa

East Asia and Pacific

Europe

Latin America and the Caribbean

Middle East and Central Asia

South Asia
Our Impact
Our Impact

Our impact improves lives. IFC brings a clear set of advantages to the world’s most challenging markets. Including a history of innovation, a global mandate, and a determination to achieve measurable development impact.
Our Impact Overview
PRINCIPLES & MEASUREMENT

Impact Investing at IFC

Measuring and Monitoring (AIMM)

Evaluation

Sustainable Development Goals (SDGs)

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.

For Partners

For Investors

Get in Touch

Summary of Advisory Services Project Information

Project Number

608290

Primary Business Area

Financial Institutions Group

Disclosure Date

Dec 1, 2024

Country

Mozambique

Region

Africa

IFC Approval Date

Jul 30, 2024

Status

Active

Estimated Total Budget

$580,000.00
(Project budget includes all project-funded activities)

Last Updated Date

Dec 10, 2024

Project Estimated Start Date

Nov 1, 2023

Project Estimated End Date

Oct 31, 2026

Project Description

This project aims to support the Insolvency and Ministry of Justice, Constitutional and Religious Affairs (MJCR) in strengthening the implementation of Mozambique's insolvency and bankruptcy framework. This project focuses on two key areas: 1: Building the capacity of the insolvency department of the MJCR, judiciary and financial institutions. This will include: a) training the Insolvency Regulator housed within the MJCR, b) assisting the MJCR in the development of data collection standards for reporting on insolvency cases to align with international standards, c) Providing training for Mozambican judges to support the oversight of insolvency cases through the courts, and d) providing awareness raising to Mozambique’s financial institutions on the benefits of using the insolvency framework to increase recovery and reorganize distressed but viable firms. 2: Building the capacity of the profession of insolvency administrators. This will include: a) supporting the insolvency department in creating a bespoke training program for insolvency administrators, b) supporting the insolvency department in creating an application for admission as an insolvency administrator, c) supporting the insolvency department and National Judicial Training Centre to deliver the training program, including train the trainer activities, and d) supporting the insolvency department to draft of the examination for insolvency administrators.

Development Results

The primary objective of the project is to strengthen the implementation of Mozambique's insolvency and bankruptcy framework by building capacity of the insolvency department of the Ministry of Justice, Constitutional and Religious Affairs and building the capacity of the profession of insolvency administrators. The project is expected to improve access to finance and promote economic growth in Mozambique. It aligns with one of the 3 top reforms of the IFC Country Strategy FY22-26 - " Improved Access to Finance for MSMEs" and has strong synergies with other World Bank Group initiatives. It is also a priority for the Government of Mozambique and financial sector stakeholders.

Indicator	Cumulative
Number of entities receiving in-depth advisory services	null
Number of reports (assessments, surveys, manuals, Phase I/strategic option reports, research, analytical, evaluations, etc.) completed	null
Number of workshops, training events, seminars, conferences, etc.	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	As part of its Due Diligence, and as mandated by IFC's Sustainability Policy, IFC team has screened this project to assess consistency with IFC's Performance Standards. Environmental and social risks will continue to be reviewed throughout the life-cycle of the project.	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 and will provide recommendations for appropriate mitigation measures whenever warranted.

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.

Projects

Summary of Advisory Services Project Information

Project Description

Development Results

E&S Risks / Impacts and Mitigation

Similar Projects

Projects

Summary of Advisory Services Project Information

Project Description

Development Results

Development Impact / Project Objectives for Public Disclosures

Development Results

E&S Risks / Impacts and Mitigation

E&S Risks / Impacts and Mitigation

Press-Release

Additional Documents

Similar Projects

Disclaimer