BUGA-BTURA (IFC-50403)

Countries
  • Colombia
Geographic location where the impacts of the investment may be experienced.
Specific Location
Valle del Cauca
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
A
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
Union Vial Camino del Pacifico
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Infrastructure
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)
$ 200.00 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)
$ 200.00 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)
$ 1,000.00 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 Mar 31, 2025

Disclosed by Bank Feb 28, 2025

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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.

According to the IFC, the proposed investment entails a project finance secured facility A-Loan of up to US$200m in COP-linked equivalent (approximately (COP$ 840,000m) to Unión Vial del Pacífico S.A.S (“UNIVIAL”, the “Company”, or “the Concessionaire”). The estimated total project cost is US$1 billion, with additional financing provided by both international and local banks. The road, which connects Buenaventura, Colombia's main Pacific coast port, with the country's interior, began operations in the 1960s and has been rehabilitated and expanded over the years under government intervention and previous concessions.

The project is divided into twenty-two sections or Functional Units (UF) and involves the operation and maintenance (O&M) of 244 km of existing road, including the rehabilitation and improvement of 154 km, the addition of two short tunnels totaling 1.4 km, stabilizing critical slopes, enhancing 33.7 km of road, converting 35 km of single carriageway to dual, rehabilitating the last 24 km access road through Buenaventura, and replacing electromechanical equipment in 17 tunnels with a combined length of 9.3 km. The construction phase, which began in August 2024, will last approximately 3.5 years, while the operations and maintenance (O&M) stage will extend for 29 years from the concession start date. Other facilities include tolls and bike paths.

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
- - - - Union Vial Camino del Pacifico SAS 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.

Contact Person: Miguel Ángel Acosta Osío

Company Name: Unión Vial Camino del Pacífico S.A.S.

Address: Calle 99 No. 14-49 Piso 4 Torre EAR Bogotá D.C.

Email: maacostao@sacyr.com

Phone: 3219740984    

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

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How it works