Support for the productive, territorial and social development of the Magallanes Region (IADB-CH-T1325)

Regions
  • Latin America and Caribbean
Geographic location where the impacts of the investment may be experienced.
Countries
  • Chile
Geographic location where the impacts of the investment may be experienced.
Specific Location
Magallanes and Chilean Antarctica region
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
Approved
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."
Voting Date
Jul 25, 2024
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Government of Chile
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • Industry and Trade
  • Law and Government
  • Technical Cooperation
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Advisory Services
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 0.20 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)
$ 0.20 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 @ IADB website

Updated in EWS Oct 1, 2024

Disclosed by Bank Sep 27, 2024

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

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 IADB, the objective of this technical cooperation is to support the generation of evidence that informs the design of public policies and the strengthening of institutional capacities in areas of productive and sustainable development, with an inclusive and territorial approach, specifically in the Magallanes and Chilean Antarctica region.

The project includes the following activities (translated with DeepL.com):

Component I: Economic Development and Productive Promotion.
Support the development of local roadmaps for two critical sectors in the region. The sectors of greatest growth potential for the region are tourism and renewable energies, including the green hydrogen sector. Both present the dual challenge of creating the enabling conditions for their rapid growth, as well as establishing the right environmental and social safeguards for accelerated but sustainable development.

3.2 Component II: Integrated Territorial Development.
Support the Regional Government in actions to develop a roadmap for the elaboration of a Regional Land Management Plan, as well as an Intercommunal Regulatory Plan.
Both instruments have the objective of long term urban-territorial planning in the long term.

3.3 Component III: Workforce development to capitalize on productive and social trends.
It will support the regional governments in the formulation of a strategy for regional human capital strategy to close skills gaps in growth sectors such as renewable energy and sectors such as renewable energy and care systems. It will also support the design of a community management pilot for elderly care, early interventions to promote wellness and prevent functional decline, through engagement and linkage activities with vulnerable communities without social support networks.

 

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.

IADB Team Leaders:

Veronica Alaimo
Pablo Javier Angelelli
Patricia Carolina Jara Males
Fernando Ignacio Toro Cano
Blanca Paola Torrico Duran

No contacts provided at the time of disclosure.

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).

How it works

How it works