Cordoba Infra (IFC-39283)

Countries
  • Argentina
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
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."
Borrower
GOVERNMENT OF THE PROVINCE OF CORDOBA
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Infrastructure
  • Transport
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)
$ 300.00 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.
Project Cost (USD)
$ 2,000.00 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 @ IFC website

Updated in EWS Aug 11, 2017

Disclosed by Bank Apr 11, 2017

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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 proposed Project involves a strategic engagement with the Province of Cordoba in the transport sector, with a focus on construction and improvement of critical road infrastructure. IFC will be a financing partner and solution provider to support the Province through a corporate loan of US$300 million and technical assistance for the development of its 2016-2019 provincial road investment program of US$2.0 billion. IFC financing will be split in two tranches, the first for US$100 million A Loan and US$50 million B loan, and the second for an equivalent amount. Specifically, tranche one includes the following three components: (i) Provincial Capital Ring-Road (“Circunvalación”) which involves the construction of 17 km of new dual carriage ways, underpasses and bridges to close the ring-road surrounding the capital of Cordoba. To accelerate implementation and facilitate oversight, the project has been divided in four segments to be procured separately. All construction work is expected to be developed by the concessionaire Caminos de la Sierra; (ii) Ring Road Access Avenue (“Costanera”) which involves the construction of an avenue linking the main intercity bus station located at the center of the Capital City to the ring road. It includes 6 km of dual carriage ways, a bridge and other infrastructure associated with the Avenue; and (iii) Alpa-Corral Road - Provincial Route 23 which involves the pavement of 67.6 km of roads in an area with high potential for tourism. Construction is expected to last two years for the Capital Ring-Road, 12 months for the Ring Road Access Avenue, and 18 months for Alpa Corral Roads - Provincial Route 23. These two latter components will be developed directly by the Province’s own road department, “Vialidad”. Projects to be developed under the second tranche are not defined yet, and will be agreed with IFC once tranche one has been fully disbursed.
Investment Description
Here you can find a list of individual development financial institutions that finance the project.

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.
ACCOUNTABILITY MECHANISM OF IFC 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/

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