Refi Rumicha - Pasto 4G Toll Road (IDBI-13522-01)

Countries
  • Colombia
Geographic location where the impacts of the investment may be experienced.
Specific Location
Departamento de Nariño
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
B
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
Jul 20, 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
Concesionaria Vial Union del Sur SAS
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 102.37 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.
Currency conversion note:
Bank reported $ 380,000,000,000
Converted using 2021-05-11 exchange rate.
Bank Documents
Primary Source

Original disclosure @ IDBI website

Updated in EWS May 11, 2021

Disclosed by Bank May 10, 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.

The Rumichaca - Pasto corridor (the "Project") is part of a group of fourth generation concessions ("4G") headed by the Government of Colombia through its National Infrastructure Agency ("ANI").

The Project, operated by the Concesionaria Vial Unión del Sur (the “Concessionaire”), covers 83 km of highways located in the Department of Nariño (southern Colombia) that connect the Rumichaca border crossing, located on the international border between Colombia and Ecuador, with the city of Pasto. The Project includes: i) the rehabilitation of 15.7 km between Rumichaca and the San Juan district in Ipiales; ii) the construction of 62.1 km of dual carriageway between the townships of San Juan and Catambuco, in the city of Pasto (25 km of completely new dual carriageway between San Juan and Pilcuán Viejo); and iii) 5.2 km of improvement of the road in the Catambuco - Pasto section.

For monitoring purposes, the Project has been divided into five Functional Units (“FU”) as follows: () i) UF1, which connects Rumichaca with Contadero, 24.66 km long; ii) UF2, between Contadero and Iles, 12.27 km long; iii) UF3 between Iles and Pedregal, 7.20 km long; iv) UF4 between Pedregal and Tangua, 15.75 km long; and v) UF5 between Tangua and Pasto, 22.18 km long. As of April 2021, the execution of civil works was close to 90%. It is estimated that the planned works will be completed in the remainder of 2021.

The Project was originally funded through a medium-term financing structure (commonly known as "Mini-Perm"). For this reason, it requires a refinancing, in which IDB Invest hopes to get involved helping to mobilize resources from institutional investors.

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

The investment type was not available at the moment of the snapshot.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Concesionaria Vial Union del Sur SAS Contractor Transport

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.

Name: Fernando Otoya Jaramillo
Title: CFO Sacyr Concesiones Colombia
Telephone: + 57 1 7 44 23 20
E-mail:
fotoya@sacyr.com

Name: Eduar Valbuena
Title: Environmental Coordinator Sacyr Concesiones Colombia
Telephone: + 57 1 7 44 23 20
E-mail:
evalbuena@sacyr.com

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://www.iadb.org/en/access-information/information-request

ACCOUNTABILITY MECHANISM OF IDB / IDB INVEST

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 (IDB Invest)-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 IDB Invest 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).

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