E-Mobility Program for Sustainable Cities in Latin America and the Caribbean (GCF-FP189)

Regions
  • Latin America and Caribbean
Geographic location where the impacts of the investment may be experienced.
Countries
  • Barbados
  • Chile
  • Colombia
  • Costa Rica
  • Dominican Republic
  • Jamaica
  • Panama
  • Paraguay
  • Uruguay
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Green Climate Fund (GCF)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
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
Jul 18, 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
Inter-American Development Bank IDB
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Climate and Environment
  • Energy
  • Infrastructure
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant, Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 200.00 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)
$ 145.00 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.
Grant Amount (USD)
$ 55.00 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)
$ 450.00 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.
Bank Documents
Primary Source

Original disclosure @ GCF website

Updated in EWS Nov 7, 2024

Disclosed by Bank Jun 13, 2022

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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.

Overview: The Program seeks to promote a structural shift towards low-carbon, climateresilient public transport systems by reducing barriers to mass electric vehicle (EV) deployment. It will accomplish this through the financing of EV deployment efforts in the Latin America and Caribbean (LAC) region along with financing for the increased climate resiliency of urban transport infrastructure and corresponding grids. The primary focus of the Program will be on commercial e-mobility including buses, taxis, institutional fleets, trucks and vessels. The Program aims to act as a market accelerator for EV financing and will be deployed in nine initial countries (Barbados, Chile, Colombia, Costa Rica, Dominican Republic, Jamaica, Panama, Paraguay and Uruguay), with replication potential beyond this first set of countries.

Program Components:

  1. climate resilient transport infrastructure;
  2. increase climate resilience of grid with green hydrogen and vehicle to grid (V2G) pilot projects;
  3. electrified integrated urban mobility; and
  4. technical assistance.

Expected outcomes:

  1. urban transport system less vulnerable to extreme climate events
  2. electric grid more resilient to climate event through the possibility of hydrogen and EV batteries as energy storage providing electricity during climate hazards
  3. reduced GHG emissions from commercial vehicles (including buses, taxis, institutional fleets, trucks and vessels - private cars and motorcycles and vessels are not financed).
  4. improved public and private sector capacity, including development of human capital, and more favorable policy framework for carbon and climate resilient transport.
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.

IDB country offices:

Barbados
“Hythe” Welches Maxwell Main Road BB17068
Christ Church
Barbados

Chile
Avenida Pedro de Valdivia 0193 10º piso
Santiago
Chile

Colombia
Carrera 7 N 71-21, Torre B Piso 19. Edificio Avenida Chile
Bogotá
Colombia

Costa Rica
Piso 4, Torre 1Centro Corporativo El Cedral 300 metros
este del Peaje Autopista Próspero Fernández
Escazú, San José

Costa Rica

Dominican Republic
Calle César Nicolás Penson Esquina Calle Leopoldo Navarro
Sector Gascué
Santo Domingo, Distrito Nacional

República Dominicana

Jamaica
6 Montrose Rd
Kingston 6
Jamaica

Panama
Calle 50 con calle Elvira Méndez, Edificio Tower Financial
Center (Towerbank), piso 23.
Panamá
Panamá

Paraguay
Calle Quesada esq. Legión Civil Extranjera
Asunción
Paraguay

Uruguay
Rincón 640 esq. Bartolomé Mitre
Montevideo
Uruguay

 

ACCESS TO INFORMATION

Requests for project information may be submitted using the IDP Request for Information by email to: disclosure@gcfund.org.

You can also submit an information request using this online form: https://www.greenclimate.fund/about/disclosure/form.  Additionally, if information requested is denied, an appeal can be filed to the Information Appeals Panel: iap@gcfund.org.  You can learn more about the Information Appeals Panel at: https://www.greenclimate.fund/about/disclosure/appeals.

 

ACCOUNTABILITY MECHANISM OF GREEN CLIMATE FUND 

The Independent Redress Mechanism (IRM) addresses complaints by people who believe they are negatively affected or may be affected by projects or programmes funded by the Green Climate Fund (GCF). The complainant can raise issues related to any of GCF’s policies and procedures, including those relating to social and environmental issues, indigenous peoples, gender, and information disclosure, among others. If you submit a complaint to the IRM, it may seek to address the issues raised by facilitating problem solving or conducting a compliance process. You can learn more about the Independent Redress Mechanism and how to file a complaint at https://irm.greenclimate.fund/.

You can access a video about the IRM (English) at: https://youtu.be/1LanbriVhfs.

A brochure about the IRM can be accessed in English, French, Spanish, Portuguese, Arabic, Mandarin, Mongolian, Vietnamese, Russian, Ukrainian, Korean, German, and Kiswahili at: https://irm.greenclimate.fund/.

 

How it works

How it works