41446 - IFC - GIPDF 3

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Summary of Investment Information

Project Number

41446

Company Name

IFC-CIN CLIENTS

Date SPI Disclosed

Apr 25, 2018

Country

World Region

Region

Global

Projected Board Date

May 30, 2018

Environmental Category

C - No Impact

Status

Active

Last Updated Date

Oct 25, 2025

Department

Syndicated Loans & Mobilization

Industry

Infrastructure

Previous Events

Approved : Jun 14, 2018
Signed : Mar 3, 2021
Invested : Sep 7, 2022

Sector

Power Projects through FI (Non RE)

Project Description

The proposed project is the renewal of the operations of the Global Infrastructure Project Development Fund, also known as IFC InfraVentures, an initiative to support early-stage private and Public Private Partnership infrastructure projects commercially by (a) providing project development support; and (b) investing early-stage risk capital from an envelope of up to US$150 million under delegated authority. Investments made via IFC InfraVentures extend IFC’s reach into the early development stages of potential projects, allowing IFC to act as a co-developer and to provide expertise in critical areas of the project development work, helping to structure balanced, bankable and sustainable infrastructure projects in markets where such investments are otherwise limited. IFC InfraVentures complements IFC’s strategy of creating markets and maximizing finance for development by leveraging sustainable private sector solutions.

IFC InfraVentures typically requires prospective projects to meet one of the following criteria:

(i) private infrastructure projects or pipelines of projects at an early stage of development, including pilot or ‘proof of concept’ business models;

(ii) projects in the process of being tendered, where IFC InfraVentures would support prospective investors on a non-exclusive basis during the selection process to help ensure the bankability of the project, and then to help the winning sponsor finalize the development and bring the project to financial close;

(iii) early stage private infrastructure projects or facilities which do not require a contractual relationship with a host government; and

(iv) on a select basis, projects or facilities in which the initial engagement of IFC InfraVentures is directly with governments or state-owned entities to define an infrastructure project in order to attract a qualified private sector participant to further develop and implement the project.

The support provided by the IFC InfraVentures’ investments includes co-funding of and providing expertise in development activities, such as:

(i) E&S impact and risk assessments and management programs;

(ii) financial and legal structuring;

(iii) feasibility, market and technical viability assessments; and

(iv) mobilization of private debt and equity capital as well as of financial and political risk mitigation mechanisms.

IFC InfraVentures’ investee projects each undergo individual Summary of InfraVentures Project (SIVP) disclosure on IFC’s website.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	150.0
Equity

E&S Category Rationale / Risks and Mitigation

IFC InfraVentures (IFC IV) is a project development envelope with no concrete client, project, or co-sponsor. The proposed cash and “sweat equity” investments will have only minimal or no adverse environmental or social risks and impacts, and therefore this is considered a Category C operation.

Environmental and social performance of the implementation of IFC IV projects will be assured by adherence to IFC’s Performance Standards on Social and Environmental Sustainability (IFC PS) during project design and early-development. Typical development activities may include closely engaging with co-sponsors in the collection of environmental and social baseline as well as the performance of environmental and social impact assessments compliant with IFC PS and GIIP, including stakeholder engagement. One of the key criteria in the early screening process for IFC IV eligibility includes avoiding projects that could pose significant and unmanageable gaps with the IFC PS.

All eight IFC PS could be triggered for projects developed under IFC IV. Any environmental and social risk and impact assessment process, stakeholder engagement and consultation, and/or specific technical studies (e.g. critical habitat assessment, security risk assessment, resettlement action plan or execution of a FPIC process) will be carried out with the support of external consultants under the close supervision of IFC’s Environmental, Social and Corporate Governance Department senior staff, to make sure all projects are designed to comply with IFC PS if they were to materialize.

In compliance with the IFC’s Access to Information Policy, a Summary of InfraVentures Project (SIVP) will be disclosed in IFC’s disclosure portal, outlining a brief description of the basic design and characteristics of the project to be developed, and an indication of the magnitude and significance of environmental and social impacts and risks that could be expected if the project were to be developed. Once the project is mainstreamed, then it is treated as a regular IFC investment, and thus it is subjected to standard and standalone project cycle, tiering, disclosure and Board Approval as any other IFC investment.

Contacts

For Inquiries About the Project, Contact

Oliver Behrend
Acting Global Head, IFC InfraVentures
+842439378721
obehrend@ifc.org

For Inquiries and Comments About IFC, Contact

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IFC Communications
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384

Local Access of Project Documentation

IFC supports its clients in addressing environmental and social issues arising from their business activities by requiring its real sector clients to set up and administer appropriate grievance mechanisms and/or procedures to address complaints from Affected Communities in relation to environmental and social issues arising from IFC's clients' business activities. Since 2012, IFC's Financial Intermediary clients applying the Performance Standards are required to develop External Communications Mechanisms to receive and review inquiries or complaints from any interested party regarding the E&S risks and impacts of their operations.

For IFC projects that are active or under consideration, individual(s), or their authorized representative(s), who allege they have been or will be adversely affected by E&S risks or impacts arising from IFC's clients' business activities, may submit a complaint to IFC directly for consideration. When receiving an E&S complaint, IFC engages with complainants and works with its clients to find solutions to E&S concerns as quickly and efficiently as possible.

Complaints can be submitted to IFC online at www.ifc.org/escomplaints or by email to EScomplaints@ifc.org.

IFC complaint response is separate from and complementary to IFC’s clients’ project level grievance mechanisms and IFC’s Independent Accountability Mechanism (CAO). Lodging a complaint directly with IFC does not, at any time, restrict access to CAO.

Affected communities have unrestricted access to the Compliance Advisor Ombudsman (CAO), the independent accountability mechanism for IFC and MIGA. CAO facilitates the resolution of complaints related to IFC and MIGA projects and sub-projects, undertakes reviews of IFC’s and MIGA’s environmental and social compliance, fosters public accountability for their commitments, and enhances the environmental and social performance of IFC and MIGA.

Independent of IFC and MIGA management and reporting directly to the IFC and MIGA Boards of Executive Directors, CAO helps resolve issues raised about the environmental and social impacts of projects through a neutral, collaborative, problem-solving approach via its Dispute Resolution function. It also reviews IFC’s and MIGA’s compliance with environmental and social policies, assesses related harm, and recommends remedial actions through its Compliance function. Additionally, CAO provides advice to IFC, MIGA, and their Boards to enhance environmental and social sustainability performance and minimize the risk of harm.

Complaints may relate to environmental and social harm regarding any aspect of the planning, implementation, or impact of a project or sub-project, and can be made by any individual, group, community, entity, or other party affected or likely to be affected by the environmental or social impacts of an IFC- or MIGA-financed business activity.

Complaints can be submitted by any of the following methods:

Online form: available at https://www.cao-ombudsman.org/
Mail/Hand Delivery to: 2121 Pennsylvania Avenue, NW, Washington, DC 20433, USA
Voice mail: +1 202 458 1973
Email: cao@worldbankgroup.org
SMS, WhatsApp, Telegram, and Signal: +1 202 650 2627

CAO receives and addresses complaints in accordance with the CAO Policy, which can be accessed at: https://www.cao-ombudsman.org/policies-guidelines.

This Summary of Investment Information (SII) is prepared by IFC to disclose a factual summary of the main elements of the potential investment. Its purpose 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 project sponsor. IFC considers that this SII is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed in advance of IFC Board of Directors’ consideration and may be periodically updated thereafter. Board dates are estimates only and this document should not be construed as presuming the outcome of the Board Directors’ decision. The following SII 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.

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