Air-e was selected by the national government to take over operation of the regional electricity network from the previous operator on the condition that the Company invest in improvments in efficiency and quality of service and to reduce energy losses in the distribution system.
The Company's 2021-2025 investment program calls for approximately US $500 million in such investments.
The proposed operation consists of a guaranteed, preferred corporate credit with proceeds to be applied to this investment program (the “Project”).
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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).