Financiera de Desarrollo Nacional S.A (MIGA-16544)

Countries
  • Colombia
Where the impacts of the investment may be experienced.
Specific Location
Gulf of Urabá
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
  • Multilateral Investment Guarantee Agency (MIGA)
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
Mar 13, 2020
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
Financiera de Desarrollo Nacional SA
The holder of the loan, grant, or other investment.
Sectors
  • Industry and Trade
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Guarantee
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 150.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ MIGA website

Updated in EWS Jan 13, 2020

Disclosed by Bank Jan 2, 2020


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Project Description

According to the Bank's website, this project guarantees a loan to be used by Financiera de Desarrollo Naconal SA (FDN) to provide senior debt financing to Sociedad Portuaria Puerto Bahia Colombia de Urabá SA for the construction, development and operation of Puerto de Antioquia, a greenfield multipurpose private concession port facility in the Gulf of Urabá with total investment of approximately US$650 million. 

Investment Description
  • Multilateral Investment Guarantee Agency (MIGA)
Private Actors
Contact Information

No contact information available at time of writing. 

ACCOUNTABILITY MECHANISM OF MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/