FONPLATA Sustainable Infrastructure Project (NDB-fonplatasustainablein)

Countries
  • Brazil
Geographic location where the impacts of the investment may be experienced.
Specific Location
large and medium-sized municipalities (with a population between 100,000 and 1 million inhabitants)
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
  • New Development Bank (NDB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Bank Risk Rating
FI
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
Mar 22, 2022
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
Fondo Financiero para el Desarrollo de la Cuenca del Plata ("FONPLATA")
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Infrastructure
  • Transport
  • Water and Sanitation
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)
$ 50.00 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.
Loan Amount (USD)
$ 50.00 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)
$ 62.50 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.
Primary Source

Original disclosure @ NDB website

Updated in EWS Jun 23, 2022

Disclosed by Bank Dec 15, 2020


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.

PROJECT CONTEXT

The Project will support FONPLATA's objective to promote the development of local and sustainable infrastructure in Brazilian federal states and medium and large size cities. The Project is also in line with NDB's mandate to mobilize resources for infrastructure and sustainable development, particularly in the context where subnational entities of member countries face constraints in addressing infrastructure investment gaps.

PROJECT OBJECTIVE

The Loan will be used by the Borrower for financing multi-sector infrastructure projects in Brazil through lending funds to large and medium-sized municipalities (with a population between 100,000 and 1 million inhabitants) and federal states. The main goal of the financing is to support small multi-sector infrastructure projects aimed at improving the delivery of vital infrastructure services in the respective regions.

PROJECT DESCRIPTION

NDB will provide an unsecured loan to FONPLATA for on-lending as sovereign guaranteed loans to large and medium-sized municipalities and federal states in Brazil for multi-sector local and sustainable infrastructure projects including water and sanitation, social housing, transport, tourism -enabling, and urban infrastructure.

EXPECTED BENEFITS

The Project will support socio-economic development in large and medium-sized municipalities and federal states in Brazil, and will contribute primarily to Brazil's efforts to achieve the Sustainable Development Goal ("SDG") 9: build resilient infrastructure, promote sustainable industrialization, and foster innovation.

ENVIRONMENTAL AND SOCIAL ASPECT

The Project has been categorized as Category FI-B in line with NDB's Environmental and Social Framework. Environmental and social ("E&S") impacts and risks of the Project will vary depending on the nature and magnitude of each of the Sub-Projects' impact on the environment.The Project's main E&S impacts may include alteration of land use, pollutant emissions during construction, occupational health and safety. The negative impacts will be mitigated by adherence to country system requirements, FONPLATA's Environmental and Social Risk Management System (SARAS), and implementation of an Environmental and Social Impact Management Plan.

IMPLEMENTATION

The Project will be implemented over a period of three years. FONPLATA will be responsible for the overall Project monitoring and evaluation, including the selection of sub-projects, collection of all information, and supervision of sub-project performance. Sub-borrowers will be responsible for preparing and implementing the Sub-Projects, including conducting procurement and sharing implementation reports with FONPLATA.

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.

ACCESS TO INFORMATION

You can submit an information request for project information though a form at the bottom of the following webpoage https://www.ndb.int/about-us/contact-us/. Alternatively, you can send an e-mail to info@ndb.int

 

ACCOUNTABILITY MECHANISM OF NEW DEVELOPMENT BANK

 

The New Development Bank (NDB) does not currently have an independent accountability mechanism to accept complaints related to NDB-financed projects. The Bank does have a whistleblower mechanism that receives complaints about misconduct related to corruption, fraudulent practices and instances of money laundering in projects financed by the NDB and/or against the NDB staff members. To learn more about the whistleblower mechanism and how to file a complaint, access this webpage at: https://www.ndb.int/about-us/whistleblowing/.

How it works

How it works