Program to boost the financing of private investment in the Peruvian Amazon - Opportunity to leverage the Bioeconomy (IADB-PE-L1258)

Countries
  • Peru
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Inter-American Development Bank (IADB)
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
FI
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
Government of Peru
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Climate and Environment
  • Finance
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.
Loan Amount (USD)
$ 20.00 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)
$ 20.00 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.
Other Related Projects
Primary Source

Original disclosure @ IADB website

Updated in EWS Jun 15, 2020

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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 general objective of the program is to promote the development of productive bio-businesses in the Amazon, in order to contribute to the growth and increase in productivity in the region in the long term, supporting the transition to an economy based on the sustainable use of natural capital. For this purpose, the structuring of a special purpose vehicle (VPE), managed by COFIDE, is proposed. The VPE will offer a set of financing products to eligible projects, directly or through financial intermediaries (IF) that have complied with a recognized process of accreditation. The final beneficiaries include small, medium and large producers, organized in individual or cooperatives, supplier or buying companies "anchor" of goods, services and technology belonging to value chains related to the bioeconomy, with ventures or investments in the Amazon region of Peru. The program will benefit from the complementary support of the technical cooperation and Investment grants of the IDB's Natural Capital program. It will be especially suitable to accelerate the transition to a restorative economy of ecosystems and the conservation of biodiversity in the Amazon region, aiming to add to the Nationally Determined Contributions (NDC) in the efforts to mitigate climate change, the goals of the Bio Diversity convention, and provide tools to the Peruvian government and the business environment to align with the new global standards of responsible investment.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

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People Affected By This Project
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Investment Description
Here you can find a list of individual development financial institutions that finance the project.

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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 IADB

The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IIC)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IIC is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).

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