SIEPAC Investment Program (IIC-12086-01)

Regions
  • Latin America and Caribbean
Where the impacts of the investment may be experienced.
Countries
  • Costa Rica
  • El Salvador
  • Guatemala
  • Honduras
  • Nicaragua
  • Panama
Where the impacts of the investment may be experienced.
Financial Institutions
  • IDB Invest
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jul 24, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Empresa Propietaria de la Red S.A
The holder of the loan, grant, or other investment.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 200.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 200.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 370.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IIC website

Updated in EWS Sep 20, 2018

Disclosed by Bank Apr 13, 2018


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Project Description

According tothe Inter-American Development Bank Invest (IDB Invest), formerly the Inter-American Investment Corporation (IIC), this project aims to finance the investment plan to boost electrical transmission capacity through the Central American Electrical Interconnection System (SIEPAC per its acronym in Spanish).

SIEPAC consists of a 1,793 km long tansmission line across Guatemala, El Salvador, Nicaragua, Costa Rica, and Panama. This project is phase two of the creation of SIEPAC, with phase one parts already up and running. 

This project will have two main activities:

  1. Construction of electricity transmission lines, as well as planned regional works
  2. Reinforcement of the capacity of the national transmission lines required and approved by unspecified national government agencies
Investment Description
  • IDB Invest

The estimated cost of the project is US$370 million. An Inter-American Development Bank Group will fund US$200 through a loan from its own resources (type A). The remaining costs will be covered by the participation of an unnamed multilateral organisation and by unspecified capital contributions. 

Private Actors

The Empresa Propiertaria de la Red S.A was developed to construct electricity transmission lines in Costa Rica.

Contact Information

Project Contact: Gian Franco Carassale

Email Addres: gianfrancoc@iadb.org

Telephone No.: +1 202 623-2957

ACCOUNTABILITY MECHANISM OF IIC

The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IIC)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IIC is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).