40418 - Santa Fe Infra (IFC-40418)

Countries
  • Argentina
Geographic location where the impacts of the investment may be experienced.
Specific Location
Province of Santa Fe
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
  • 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."
Voting Date
Jul 27, 2018
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Governement of the Province of Santa Fe
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.
Loan 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)
$ 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.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Jul 16, 2018

Disclosed by Bank Jun 20, 2018

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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 IFC investment will support the Urban Streets Pavement Program (Programa de Pavimientacion de Calles a Nivel Definitivo y Cordón Cuneta en Distintos Municipios y Comunas de La Provincia de Santa Fé) of the Province of Santa Fé, Argentina (the “Borrower” or the “Province”). Specifically, this program will support paving of urban streets in municipalities and comunas (“MM/CCs”) throughout the Province. It will contribute to improve living conditions for approximately 200,000 residents. Benefits are expected to include reduction of waterborne diseases, improved delivery of public services (public transportation, waste collection) and real estate appreciation.

The proposed investment will finance pavement of existing urban streets and the program will not entail any construction of new streets or modification of the physical footprint of the existing roads. IFC investment consists of a senior loan of US$300 million to be committed in two tranches, for a total of US$150 million for IFC’s own account and US$150 million in mobilization.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

IFC’s investment will be in the form of a US$300 million senior loan, composed of an IFC A Loan of up to US$150 million and mobilization for the remaining US$150 million. IFC’s investment will be committed in two tranches to finance a multi-year investment program and accommodate to its implementation schedule. The Province will on-lend the funds to the MM/CCs for implementation of the investments.


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/

Gobierno de la Provincia de Santa Fe
Pablo Olivares
Secretario de Finanzas e Ingresos Públicos
+54 342 450 6802 / +54 342 450 6802
polivares@santafe.gov.ar
Centro Cívico: Av. Illía 1151 (S3000DWC) Santa Fe
https://www.santafe.gov.ar/
 

IFC requires local disclosure of the ESRS and ESAP in a culturally appropriate manner and language. The Province of Santa Fe will (i) create a website within the Province’s official site https://www.santafe.gov.ar/; and (ii) notify IFC of the date of local release and provide details of how it was undertaken (e.g. website link, etc.).

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