Suchergebnisse

On June 3, 1960, the International Finance Corporation (IFC) announced an agreement with three other investors to invest the equivalent of £2.3 million in the Kilombero Sugar Company, Ltd., in Tanganyika, for a sugar production and refining project estimated to cost £3.2 million, production to begin in 1962. The investment was represented by the equivalent of £1.15 million in debentures bearing 7 percent interest and maturing by 1973; by, £500,000 in convertible income notes maturing by 1975 without fixed interest and bearing returns contingent on earnings; by, £650,000 in share capital; and by an option on ordinary shares. Additional financing for the project was to come from an issue of convertible preferred shares, totaling, £700,000, by the Standard Bank of South Africa and the Colonial Development Corporation, to be offered for sale to residents of Tanganyika.

196 International organizations — International administrative tribunals — World Bank Administrative Tribunal — Investigation — Misconduct — Abuse of position for financial gain — Acceptance of remuneration from outside parties in connection with Bank appointment — Failure to observe generally applicable norms of prudent professional conduct — Performance of service for outside entity — Retention and sharing of pornography — Application of amended staff rules — Proportionality of sanction — Due process — Administrative leave during investigation — Removal from office premises

636International organizations — Officials — Terms and conditions of employment — Termination of employment — Unsatisfactory performance — Agreement to extend Applicant's special leave on condition that all claims against the Respondent be settled — Whether precluding application to Tribunal — Whether agreement concluded under duressInternational tribunals — International administrative tribunals — World Bank Administrative Tribunal — Basis of jurisdiction — Right to apply to Tribunal derived from Statute of the Tribunal not from contract or terms of employment — Procedure — Review of decisions — Grounds for review

International organizations — Immunity — Absolute immunity — Restrictive immunity — International Finance Corporation — International Organizations Immunities Act 1945 ("IOIA") — Whether IOIA conferring same immunity on international organizations as foreign governments enjoying under Foreign Sovereign Immunities Act 1976 — Whether international organizations enjoying absolute or limited immunity under United States Federal law — Whether restrictive immunity meaning unlimited exposure to suitJurisdiction — Immunity — Immunity from suit — International Organizations Immunities Act 1945 — Privileges and immunities of international organizations comparable to those enjoyed by foreign governments — Whether international organizations enjoying absolute or limited immunity under United States Federal law — Whether restrictive immunity meaning unlimited exposure to suit — Whether International Finance Corporation enjoying absolute immunity from suitEnvironment — Pollution — Construction and operation of coal-fired power plant in India — International Finance Corporation ("IFC") making loan to Indian company for construction of plant — Non-compliance of Indian company with environmental and social action plan — Loan agreement allowing IFC to revoke financial support if terms of agreement not complied with — Petitioners bringing claims against IFC — Whether IFC having immunity from suit under International Organizations Immunities Act 1945 — The law of the United States

The study, conducted assesses the current state of agricultural finance in the Republic of Kosovo (Kosovo) and determine ways to improve the provision of finance to Kosovo's growing agricultural economy. The study is aimed at informing the full range of stakeholders about the best options to scale up financial services for agriculture. The study relies on data from available statistics as well as on individual and group discussions with stakeholders. Kosovo's business environment is improving, despite slow advancement in the capacity and function of the public institutions responsible for providing guidance and direction to the industry. Government focus on the World Bank (WB) Doing Business indicators has produced encouraging results. According to the Doing Business 2018 report, Kosovo is currently ranked 40th in the world, up from 126th in 2012, a leap of 86 places. In ease of starting a business, Kosovo very substantially improved its ranking, by 160 places. A law on strategic investments is under consideration, and attention is being given to support public institutions that improve the business environment, such as the Business Registration Agency, which ultimately will support investors. These developments are taking place in an economy marked by high general unemployment (30.5 percent) and very high youth unemployment (52.7 percent). The public sector remains the dominant employer and pays higher wages on average than he private sector. The supply of skilled workers is insufficient to satisfy private sector demand. Small and medium enterprises dominate the economic landscape; while these are increasing in number, few grow into larger entities.

Inaugural meeting: The inaugural meeting of the Board of Governors of the International Finance Corporation (IFC) was held in Washington, D.C., on September 24, 1956. Before the Governors was the inaugural report on the Corporation, submitted to it by R. L. Garner, IFC President. During the two months of actual operations covered by the report, considerable progress had been made in establishing a working organization, adopting operating policies for the initial stage of IFC activities, developing working procedures and recruiting staff. As of September 15, the Corporation had 32 members, whose subscriptions totaled $78,382,000. An encouraging degree of interest in IFC's activities had been shown by private industrial enterprises and private investors all over the world, the report continued, and inquiries received had included a number of proposals which had appeared to be of a kind appropriate for IFC investment.

The bulk of International Finance Corporation (IFC) lending benefits companies from rich countries, and projects in countries with middle income. Large conglomerates such as Lidl or Mövenpick have been among its direct beneficiaries. This contrasts to some extent with the IFC's official mandate, which is to finance poverty-reducing projects for which private capital is not available on reasonable terms. We investigate the drivers of this mismatch. According to our theory, the governments of industrialized countries where borrowing companies are based form coalitions with governments of middle-income countries where the projects are implemented. We therefore expect preferential treatment to be most pronounced when the representatives of both the recipient's and the company's countries are best able to collude in exerting their influence. We argue that this will be the case when both countries' governments are represented among the IFC's Board of Executive Directors, and when they have extraordinary clout with major IFC shareholders. Using data for more than 3000 IFC projects over the 1995-2015 period we show that the (joint) influence of these countries helps them to receive a disproportional share of IFC funding.