According to the bank, the objective of the Project is to contribute to the sustainability of Colombia's energy generation by increasing by 2,400 MW the installed capacity of renewable and lower-cost energy in the country. This is expected to result in several benefits for electricity consumers in Colombia and for the environment. An economic analysis to assess the expected benefits of the Project identified and estimated the following benefits: (i) a consumer surplus resulting from increased electricity consumption; (ii) benefits in terms of fuel and operation & maintenance savings; (iii) foreign currency savings; (iv) savings from reduced rationing during 2020-2026; and (v) environmental benefits in terms of carbon dioxide emissions reduction.
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).