Uniminuto II (IFC-43396)

Countries
  • Colombia
Geographic location where the impacts of the investment may be experienced.
Specific Location
UNINFORMED
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
Mar 4, 2022
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
CORPORACION UNIVERSITARIA MINUTO DE DIOS
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Education and Health
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)
$ 25.00 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)
$ 75.00 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 Jun 24, 2022

Disclosed by Bank Feb 2, 2022

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Contact the EWS Team

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.

Founded by the Eudists in 1990, Corporación Universitaria Minuto de Dios (“Uniminuto” or the “company” - https://www.uniminuto.edu/), is the largest private and non-profit university institution by enrolment. Uniminuto has a main campus in Bogotá (San Juan Eudes) and currently operating 65 municipalities of 21 departments distributed in 12 locations in Colombia as of October 2021. It offers undergraduate, postgraduate, and continuing education, targeting the low-income population. It has about 91,542 under-graduate and graduated students and approximately 4,065 faculties. The proposed IFC investment is a $25 million long-term debt facility to finance the execution of 2020-2025 development plan. The facility will specifically finance the company’s 2021-2022 plan: (i) expansion and modernization of two campuses – Bogotá Calle 90 and Neiva and (ii) expansion of technology and virtual educational programs (“the Project”).IFC invested to the company in 2009 to support the expansion of three campus (Bogotá main campus, Soacha, and Girardot) and exited in 2017. Please refer to the environmental and social review summary through: https://disclosures.ifc.org/project-detail/ESRS/27689/uniminuto.                                                  

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.

Corporacion Universitaria Minuto de Dios
Mario Cardenas
Integrated Services Vicerrector
3153589375
mario.cardenas@uniminuto.edu
Carrera 73A No.81B– 70, Bogota, Colombia
https://www.uniminuto.edu/

 

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries.

 

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly,  you can submit a complaint at the link above to IFC’s Access to Information Policy Advisor, who reports directly to IFC’s Executive Vice President. 



ACCOUNTABILITY MECHANISM OF IFC/MIGA

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