Support Border Integration Program (IADB-NI-G1020)

Countries
  • Nicaragua
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
Proposed
Bank Risk Rating
B
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.
Sectors
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 22.42 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 0.13 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IADB website

Updated in EWS Oct 12, 2017

Disclosed by Bank Aug 14, 2017


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Project Description
The objective of the Border Integration Program Support of Nicaragua is building the competitiveness of its foreign trade through the modernization of infrastructure, equipment and its border systems in its land border crossings.
Investment Description
  • Inter-American Development Bank (IADB)
The European Union (EU) has approved a € 20 million contribution to support the modernization of Nicaragua's border crossings. The Government of Nicaragua has requested the Bank to incorporate these resources into the Program to support the development and technological equipment of the border crossings and the modernization of the infrastructure of the border crossing of San Pancho. The EU resources will be managed by the Bank under the indirect management modality in accordance with the Administrative Framework Agreement between the EU and the Bank signed in 2015. The budget of the EU contribution will be € 20,000,000 according to the framework agreement signed between the Bank and the EU, including the 5.8% project management. In addition, the Bank will contribute equivalent to € 111,500 with resources from a Technical Cooperation (TC) in approval process (RG-T3003). € 20,000,000 represents USD 22,420,000 according to a benchmark exchange rate of US $ 1,121 / € 1 at 1/6/2017 (IMF: https://www.imf.org/external/np/fin/data/param_rms_mth.aspx). € 111,500 represents USD 125,000.
Contact Information
TEAM LEADER Jaime Granados (TIN/CCR) Margarita Libby (TIN/CGU) TEAM MEMBERS Daniel Torres (TSP/CNI) Osmín Mondragón and Santiago Castillo (FMP/CNI) Kai Hertz and Dimas Tejero (ORP/GCM) Claudia Bone (CID/CNI) Julia Miguez (VPS/ESG) Taos Aliouat and Mónica Lugo (LEG/SGO) Ana Lucia Paz (INT/TIN). 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).