Financing Mechanisms for Private Investments in Energy Efficient (EE) Public Lig (IADB-CO-T1423)

Countries
  • Colombia
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
Approved
Bank Risk Rating
C
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 19, 2016
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 Colombia
The holder of the loan, grant, or other investment.
Sectors
  • Energy
  • Finance
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, etc.
Investment Amount (USD)
$ 2.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 27.85 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IADB website

Updated in EWS Aug 16, 2017

Disclosed by Bank Aug 11, 2016


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Project Description
The proposed Technical Cooperation (TC) aims to support the design of a strategy that helps to reduce and mitigate several barriers and risks associated with the main kinds of financing schemes for EE LED street lighting projects, that have impeded the success of investment and the use of the current credit line and, at the same time, create market conditions that will stimulate the demand for this type of project investment, on the part of both the municipalities and the private sector, and create trust between the actors involved. It is expected that overcoming these constraints will generate an increased demand for street lighting financing, which will enable FINDETER to place at least US$25 million (parallel financing for this TC) in loans to municipalities/financial intermediaries/energy services providers for the conversion to more efficient street lighting systems, leading to a reduction in the emission of greenhouse gas (GHG)
Investment Description
  • Inter-American Development Bank (IADB)
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).