LLP Peru (IFC-39427)

Countries
  • Peru
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
LATAM LOGISTIC PER PROPCO LURIN I S.R.L.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Construction
  • Industry and Trade
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)
$ 28.00 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.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 16, 2017

Disclosed by Bank Apr 28, 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 team proposes to provide an up to US$14 million A loan and up to US$ 14 million B loan to support LatAm Logistics Properties (“LLP” or the “Sponsor”) in the development of 65,578 m2Class-A logistics facilities in Lima, Peru (the “Project”). LLP is a new Greenfield company focused on the development, acquisition, leasing, and management of international-standard Class-A logistics facilities in Costa Rica, Peru, Colombia and Panama. The project is located in one of the main corridors in Lima at approximately 35 Km to the south, providing efficient access of goods and services into and out of the city. The size of the lot is 126,724 m2and the plan is to develop the project in three stages. The first stage of construction corresponds to a warehouse of 22,266 m2, the second stage entails the construction of an additional warehouse of 21,655 m2, and third one comprises a facility of 21,655 m2. Each stage will also have 1,170 m2of office space, and the whole project will have around 4,000 m2for supporting infrastructure and sidewalks. Stages two and three will be built conditional on demand. Land preparation works already began and is expected to be finished by May 2017. Construction activities for the first stage are expected to begin the dame date, and be finished by January 2018. After finishing construction activities and leasing the spaces, LLP will contract an administrative company to operate the facilities maintenance of common areas, wastewater treatment plant and fire protection.
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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How it works