Climate Technology Fund (CTF) resources will be used to finance battery storage projects under investment loan CO-L1258, allowing Bancoldex to improve project developers' financial conditions and promote development of this technology in the country. Specifically, CTF resources will support Bancoldex to reduce financing costs (lower interests and longer tenor), making it more attractive for battery storage project developers.
The bank has given this project an environmental and social risk category of B13.
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**Project contacts not available 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 (IDB Invest)-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).