Support for Resource-Based Socioeconomic Development in Patagonia, Argentina (IADB-AR-T1211)

Countries
  • Argentina
Where the impacts of the investment may be experienced.
Specific Location
Buenos Aires Lake Department (Province of Santa Cruz, Argentina)
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
  • 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
Active
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jul 24, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Government of Argentina
The holder of the loan, grant, or other investment.
Sectors
  • Energy
  • Mining
  • Technical Cooperation
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 1.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Grant Amount (USD)
$ 1.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IADB website

Updated in EWS Aug 31, 2018


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Project Description

The objective of this project is to promote socio-economic development based on natural resources in the Argentine Patagonia, with the private sector as the driving force. To this end, the project will support specific activities to plan and prioritize improvements in infrastructure and urban services, promote local and regional economic diversification in the Buenos Aires Lake Department (Province of Santa Cruz, Argentina). The project seeks to contribute to the implementation, on a small scale, of a concept called "Development Compact": a coordinated effort of the three main actors - public sector, private sector, civil society - to promote long-term territorial planning and development activities term, based on consensus regarding challenges and opportunities, and the mobilization of resources.

Investment Description
  • Inter-American Development Bank (IADB)

The Donor (Goldcorp Inc.) will make available to the Bank (the IDB) a grant contribution in the ammount of USD 1.000.000 to be administred by the Bank to co-finance the project.

Private Actors
Contact Information

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).