TRANSAMBIENTAL S.A.S. (FMO-48656)

Countries
  • Colombia
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
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."
Investment Amount (USD)
$ 15.00 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 @ FMO website

Updated in EWS Jun 25, 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.

WHO IS OUR CLIENT

Transambiental is one of the three bus operator concessionaires of Cartagenaa€™s new Integrated Mass Transport System , named Transcaribe. Transambiental is responsible for the execution of Concession number 3, whose purpose is to finance, acquire, operate and maintain up to 223 state-of-the-art natural gas powered buses. The new system, expected to transport 450,000 passengers daily, is based on a Public Private Partnership model, in which the public sector funds the immovable infrastructure (e.g. bus lanes, stations, depot and maintenance center) and the private sector is responsible for bus operations, fare collection and scrapping of the old existing bus fleet.

FUNDING OBJECTIVE

As part of a debt package of Colombian Peso 145 billion (approximately USD 48 million), FMO commits to provide a loan of USD 15 million. The funding will mainly be used to acquire new buses and to acquire and scrap old diesel buses currently operating in the public transport system.

WHY WE FUND THIS PROJECT

This is a Green and Inclusive project. The introduction of Transcaribe will help Cartagena to move from an old, polluting, uncomfortable and inefficient bus system, with 1,600 old diesel buses, towards a cleaner, more reliable and efficient public transportation system, with 660 state-of-the-art natural gas powered buses. Transcaribe will offer affordable transport to the middle class and poor, that rely the most on the public transport system.

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.

FMO
The Netherlands
+31 70 314 96 96
info@fmo.nl
Anna van Saksenlaan 71
2593 HW, The Hague
The Netherlands

FMO
South Africa
+27 11 507 2500
joburg-office@fmo.nl
Regent Place, 2nd Floor
Cradock Ave, Rosebank 2196
Johannesburg South Africa

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism

 

How it works

How it works