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$150,000.00 (Project budget includes all project-funded activities)
Last Updated Date
Jun 18, 2024
Project Estimated Start Date
Apr 1, 2024
Project Estimated End Date
Jun 30, 2025
Project Description
IFC is working with Grooming Centre to support the institution to put in place a robust operational risk management framework that will help the institution to better anticipate and manage its operational risks.
Development Results
The overall goal of this project is to assist Grooming Centre to develop a well-defined and clear operational risk management system that will help the institution to better anticipate and manage its operational risks. This will allow the institution to build resilience as it provides financial services in a rapidly growing, competitive, and challenging operating environment.
Indicator
Cumulative
Number of recommended procedures/firm-level policies/practices/standards that were improved or eliminated
null
Number of procedures/firm-level policies/practices/standards recommended for improvement or elimination
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
The projects scope includes advisory activities on E&S risk management, as part of a broader engagement to advise the client to structure their operational risk management system, which will be required to be delivered in consistency with the PS. Accordingly, E&S risks are classified as medium. E&S risks will be further reviewed throughout the lifecycle of the project.
The project activities will assist the client in gaining a good understanding of IFCs Performance Standards (PS) in relation to E&S risk management. IFC advice will be provided in a manner consistent with the PS and, for these purposes, advice on E&S risk management will be delivered by specialists familiar with PS requirements.
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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