Kenya STCR SP
Summary of Advisory Services Project Information
Project Number
602042
Primary Business Area
Other
Disclosure Date
Dec 5, 2018
Country
Kenya
Region
Sub-Saharan Africa
IFC Approval Date
Jan 24, 2017
Status
Active
Estimated Total Budget
$240,000.00
(Project budget includes all project-funded activities)
Last Updated Date
Dec 5, 2018
Project Estimated Start Date
Jan 1, 2017
Project Estimated End Date
Jun 30, 2020
Project Description
The project is supporting the development of secured transactions regime and collateral registry. Key activities will include stakeholders' coordination, capacity building and awareness raising to align the regulatory framework with best practice, ensure delivery of a modern collateral registry system, and facilitate early adoption by lenders.
Expected Development Impact
The objective of the project is to increase the reach of credit to individual consumers as well as micro, small and medium enterprises, especially women entrepreneurs who are adversely affected by the traditional lending practice that favors physical assets over movable assets as collateral for loans. It will also boost the adoption of the secured transactions in movable asset regime and promote financial system deepening and inclusion.
E&S Risks / Impacts and Mitigation
Performance Standard
PS 1. Assessment and Management of Environmental and Social Risks and Impacts
Description & Potential Impact
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.
Mitigation
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.
Hyperlinks to Related Project Dossiers:
https://disclosures.ifc.org/#/projectDetail/AS/602042
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