Early Warning System

Countries

Colombia

Geographic location where the impacts of the investment may be experienced.

Financial Institutions

US International Development Finance Corporation (DFC)

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

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

Concesionaria Vial Union del Sur SAS

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Construction
Infrastructure
Transport

The service or industry focus of the investment. A project can have several sectors.

Investment Amount (USD)

$ 250.00 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)

$ 931.80 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

Primary Source

Original disclosure @ DFC website

Updated in EWS Aug 24, 2019

Disclosed by Bank Feb 20, 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.

According to the Agency's document, this project finances the design, construction and operation of an 84km corridor of a tolled, dual-carriageway highway in southwestern Colombia, including expansion of an existing single-carriage corrdior to a dual-carriage highway, and construction of 27kn of new highway.

The major environmental and social concerns related to the project include impacts to community health and safety resulting from increased traffic, influx of non-local workers and non-local peoples, noise and vibration; the need for robust and occupational health and safety procedures; soil erosion and spoil management; impacts to biodiversity; and the need for a robust environmental and social management system with appropriate organizational capacity given simultaneous multiple work fronts and ambitious timeline for construction.