IDB CLIMA: Energy Transition Support Program (IADB-CO-L1287)

Countries
  • Colombia
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
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
A
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
Nov 13, 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 Colombia
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
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.
Investment Amount (USD)
$ 138.50 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)
$ 138.50 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 Nov 21, 2024

Disclosed by Bank Apr 1, 2025

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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.

According to the IADB, the overall objective is to support the decarbonization of the Colombian economy by accelerating the financing of TEJ projects and strengthening the capacities and instruments of the FDN that contribute to their eventual access to the thematic green capital markets on the necessary scale. The specific objectives are: (i) to increase financing for both FNCER projects in the SIN and the ZNI as well as for the scaling of enabling technologies for their deployment, to contribute to the fulfillment of the sectoral decarbonization goals; (ii) to strengthen the technical capacities of the FDN for the identification, design and management of climate project portfolios; and (iii) to improve the climate MRV capabilities of the FDN to contribute to national climate reporting efforts and support eventual green debt issuances.

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.

De acuerdo con el IADB, De acuerdo con el MPAS, y dado que la estructura de financiamiento involucra la provisión de fondos a través de un intermediario financiero (FDN), se ha asignado una categoría FI. La clasificación de riesgo ambiental y social es substancial, teniendo en cuenta que los subproyectos serán ejecutados principalmente en ZNI de Colombia, donde existen territorios titulados de pueblos indígenas y a Consejos Comunitarios de las Comunidades Negras, así como Parques Naturales; la FDN cuenta con un muy alto desempeño ambiental y social y experiencia con la implementación del estándares sociales y ambientales de la Corporación Internacional Financiera. 

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.

No contacts 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 (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