Early Warning System

Countries

Costa Rica

Geographic location where the impacts of the investment may be experienced.

Financial Institutions

IDB Invest (IDBI)

International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.

Project Status

Proposed

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."

Voting Date

Apr 2, 2021

Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.

Borrower

Grupo Desarrollador de Parques Industriales S.A. ("GDPI" or the "Company")

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Industry and Trade

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, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

$ 23.00 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Bank Documents

Primary Source

Original disclosure @ IDBI website

Updated in EWS Feb 17, 2021

Disclosed by Bank Jan 28, 2021

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Project Description

If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

<div class="block">This transaction is a combined long-term and medium-term corporate loan of up to US$23 million to Grupo Desarrollador de Parques Industriales S.A. ("GDPI" or the "Company"). GDPI is part of the Guerrero Group, and its purpose is to develop the Green Park Industrial Park in the Coyol area on the outskirts of Alajuela. The proposed financing is for the construction of several industrial buildings within this park, which will increase the availability of industrial facilities in the country. This will attract Direct Foreign Investment, mainly focused on life sciences, technology, and shared services clusters, and aligned with the global trend of "<em>Near-shoring</em>", where Costa Rica is a significant regional player.<br /><br /><br /> <div class="intro-frame block-wysiwyg"> </div> </div>

People Affected By This Project

People Affected By This Project refers to the communities of people likely to be affected positively or negatively by a project.

For inquiries about the Project please contact:

Name : Carlos Zacapa

Title: Executive Director

Phone number: +(506) 4052-5977

Email:czacapa@thegreenparkfz.com

For questions and comments to IDB Invest please contact:

Name: IDB Invest Communication Group

E-mail:requestinformation@idbinvest.org

Additionally, affected communities can access the IIC's Independent Consultation and Investigation Mechanism (ICIM) as follows:

Phone number: +1 (202) 623-3952

Fax number: +1 (202) 312-4057

Address: 1300 New York Ave. NW Washington, DC. USA. 20577

E-mail:mecanismo@iadb.orgoMICI@iadb.org

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

IDB Invest (IDBI)

The IDBI did not publish the investment ammount.

Private Actor 1	Private Actor 1 Role	Private Actor 1 Sector	Relation	Private Actor 2	Private Actor 2 Role	Private Actor 2 Sector
-	-	-	-	Grupo Desarrollador de Parques Industriales S.A.	Contractor	Industry and Trade

Contact Information

This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.