FONPLATA Regional Framework Loan (EIB-20160586)

Regions
  • Latin America and Caribbean
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Investment Bank (EIB)
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
U
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.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 59.13 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 50 million
Converted using 2017-10-13 exchange rate.
Project Cost (USD)
$ 177.38 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported EUR 150 million
Converted using 2017-10-13 exchange rate.
Primary Source

Original disclosure @ EIB website

Updated in EWS Oct 13, 2017

Disclosed by Bank Jun 15, 2017


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Project Description
The operation will be structured as a multi-sector framework loan focusing on improving provision of basic services in rural and urban areas in the relevant sub-regions of the Plata River basin in Argentina, Brazil, Bolivia, Paraguay and Uruguay. It will target small schemes in a variety of sectors including flood protection, with a focus on social deprivation and climate resilience. The project contributes to EU policy goals and is in line with the EIB's priority areas of intervention under the External Lending Mandate, particularly as regards regional integration, development of social and economic infrastructure and climate action. The main focus will be on environment and climate action (adaptation/mitigation), resource efficiency, social deprivation, food security and infrastructure development. ENVIRONMENTAL ASPECTS The project will target small schemes in a variety of sectors including flood protection, with a focus on social deprivation and climate resilience in rural and urban areas. Therefore the potential negative environmental impact is likely to be minor. If located in the EU, some individual schemes would likely fall under Annex II of the Environmental Impact Assessment (EIA) Directive 2011/92/EU and therefore be subject to screening. Appropriate screening procedures, also in relation to natural habitats and protected species, as well as energy performance of buildings and land acquisition/resettlement, will be put in place. This is the first project of the Bank with Fonplata. The Bank will check the promoter's capacity to implement framework loan operations and to prioritise projects that increase the area's resilience and improve the population's living conditions in an efficient way, from an economic and social point of view, complying with the Bank's environment and social standards.
Investment Description
  • European Investment Bank (EIB)
Proposed EIB finance (Approximate amount): EUR 50 million Total cost (Approximate amount): EUR 150 million
Contact Information
ACCOUNTABILITY MECHANISM OF EIB The EIB Complaints Mechanism is designed to facilitate and handle complaints against the EIB by individuals, organizations or corporations affected by EIB activities. When exercising the right to lodge a complaint against the EIB, any member of the public has access to a two-tier procedure, one internal - the Complaints Mechanism Office - and one external - the European Ombudsman. A complaint can be lodged via a written communication addressed to the Secretary General of the EIB, via email to the dedicated email address complaints@eib.org, by completing the online complaint form available at the following address: http://www.eib.org/complaints/form, via fax or delivered directly to the EIB Complaints Mechanism Division, any EIB local representation office or any EIB staff. For further details, check: http://www.eib.org/attachments/strategies/complaints_mechanism_policy_en.pdf When dissatisfied with a complaint to the EIB Complaints Mechanism, citizens can then turn towards the European Ombudsman. A memorandum of Understanding has been signed between the EIB and the European Ombudsman establishes that citizens (even outside of the EU if the Ombudsman finds their complaint justified) can turn towards the Ombudsman on issues related to 'maladministration' by the EIB. Note that before going to the Ombudsman, an attempt must be made to resolve the case by contacting the EIB. In addition, the complaint must be made within two years of the date when the facts on which your complaint is based became known to you. You can write to the Ombudsman in any of the languages of the European Union. Additional details, including filing requirements and complaint forms, are available at: http://www.ombudsman.europa.eu/atyourservice/interactiveguide.faces