LLP Colombia (IFC-40982)

Countries
  • Colombia
Geographic location where the impacts of the investment may be experienced.
Specific Location
Bogota
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
May 25, 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
LATAM LOGISTIC COL PROPCO COTA 1 S A S
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • 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)
$ 30.00 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
Campaign Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Apr 26, 2018

Disclosed by Bank Apr 24, 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 project entails an approximately US$30 million COP equivalent (COP 77.5 billion) A-Loan and a Parallel Loan of an equivalent amount coordinated by IFC to support LatAm Logistics Properties (LLP or the Sponsor) in the development of Phase I and II of its first class-A logistic warehousing park in Bogota (the Project). The warehousing park has a total potential of 252,000 square meters (sqm) (240,000 sqm of warehousing space and 12,000 sqm of office area mezzanine level), on a plot of 567,300 sqm, and will be developed in 3 phases. The Project entails the construction of approximately 160,000 sqm (including office space and restrooms for employees). The plot is located on the Calle 80 (TenjoMunicipality), which is one of the most important new logistics clusters in Bogota.

 The project will expand the supply of scarce efficient class-A warehousing space to support the growth of retailers, e-tailers, consumer goods companies, third-party logistic operators and manufacturing companies. This new class-A warehousing space will result in increased efficiency for tenants’ supply chains and introducing international green building practices through obtaining IFC’s EDGE certification.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Latam Airlines Group SA Client -

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.

For inquires about the project, contact: 

Latam Logistic COL PropCo COTA 1 SAS 
Guillermo Zarco 
Country Manager 
+5715185124 
guillermo@latamlp.com 
Av Calle 82 N 9 – 65 Edif Savile of 302, Bogota DC, Colombia. 
www.latamlogisticproperties.com 

For inquires about the IFC, contact: 

General IFC Inquiries
IFC Communications
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384

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/

How it works

How it works