Latin America Financial Infrastructure (IFC-600865)

Countries
  • Colombia
Geographic location where the impacts of the investment may be experienced.
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
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
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)
$ 1.18 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 Oct 27, 2017

Disclosed by Bank Apr 17, 2017

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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 objective of this project is to facilitate access to credit for micro, small, and medium enterprises in Latin America. The major outcome of the project will be the establishment of modern collateral registries for security interests in movable property and credit bureaus in multiple countries in the region. The project's development impact is expected to facilitate over US$89 billion in financing and benefit over 393,000 micro, small and medium enterprises. Expected Development Impact The Latin America Financial Infrastructure Program, focusing on Secured Transactions and Collateral, Credit Information Systems and Insolvency reform will: 1) Develop legal and regulatory frameworks to support the implementation of a modern systems of financing secured by movable assets, credit reporting, and insolvency resolution. 2) Develop and procure web-based centralized collateral registries for security interests in movable property, guide regulators in supervising private credit bureaus. 3) Build awareness and local capacity to realize the greatest benefits of the systems.
People Affected By This Project
People Affected By This Project refers to the communities of people likely to be affected positively or negatively by a project.
The Latin America Financial Infrastructure Program, focusing on Secured Transactions and Collateral, Credit Information Systems and Insolvency reform will: 1) Develop legal and regulatory frameworks to support the implementation of a modern systems of financing secured by movable assets, credit reporting, and insolvency resolution. 2) Develop and procure web-based centralized collateral registries for security interests in movable property, guide regulators in supervising private credit bureaus. 3) Build awareness and local capacity to realize the greatest benefits of the systems.
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.
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