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Case Highlights

Philippines: IFC Board Approves Management Action Plan in Response to CAO’s RCBC Investigation
IFC’s Board approved a Management Action Plan on April 7 in response to CAO’s compliance investigation of IFC investments in Rizal Commercial Banking Corporation (RCBC) in the Philippines. CAO's investigation identified non-compliance by IFC in its appraisal and supervision of environmental and social risks emerging from its investments in RCBC’s banking business, including 10 coal-fired power plants RCBC financed in the Philippines, and 1 plant it committed to finance. The Management Action Plan developed by IFC in agreement with RCBC, after consultation with the Complainants, outlines four areas of improvement in response to CAO's report. The investigation report in English and Filipino and IFC’s Management Action Plan is available here. See joint IFC-CAO press release here.


Albania: IFC-Supported Hydropower Case Closes After Monitoring
After issuing a second compliance monitoring report on IFC’s investment in Lengarica Hydropower Project, run by Enso Albania, CAO has closed the case with a partially unsatisfactory result on April 20. CAO found that IFC’s ongoing supervision of the project had only partially addressed CAO’s non-compliance findings regarding the project, particularly regarding mitigating project impacts on tourism and verifying that project operations are consistent with National Park management plans. Learn more.

Monthly Case List
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Staff Updates
CAO Celebrates new staff appointments: 

Erica Bach joined to our Advisory team as a consultant.

Kamal Barakat, consultant, also joined our Advisory team.

Patience Chiradza has joined our Dispute Resolution team as a consultant.

Sopheak Hoeun has joined our Administrative and Client Support team.

Click here to learn more about CAO staff.  
The Office of the Compliance Advisor Ombudsman (CAO) is the independent accountability mechanism for the International Finance Corporation (IFC) and Multilateral Investment Guarantee Agency (MIGA), members of the World Bank Group. 
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