Early Warning System

Countries

Peru

Geographic location where the impacts of the investment may be experienced.

Specific Location

Moquegua

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

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

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

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."

Borrower

Government of Peru

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Mining
Technical Cooperation

The service or industry focus of the investment. A project can have several sectors.

Investment Type(s)

Fund

The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

$ 0.60 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)

$ 0.60 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)

$ 0.67 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 @ IADB website

Updated in EWS Mar 12, 2021

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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.

The Beyond Extraction II project aims to increase socioeconomic benefits for the communities of Ilo and Mariscal Nieto (Moquegua, Peru) located in the area of influence of large mining operations, with a focus on women and youth, and innovation. In the aftermath of the COVID-19 pandemic, the program will focus on supporting the reactivation of economic activities and strengthening the local labor market in the targeted communities by: (i) strengthening key value chains and productive sectors that can significantly contribute to the economic recovery and have a multiplier effect; and (ii) promoting greater labor market efficiency. The program will deploy a systemic approach and engage with public and private sector actors that have the incentives and influence to impact the entire ecosystem, providing them with innovative tools to grow their businesses and better leverage the local labor market capabilities. A collaborative effort between the IDB and local private sector entities, led by Anglo American and Mitsubishi Corp. (owners of the Quellaveco project, the largest mining project currently in construction in Peru) the Beyond Extraction II Program will leverage lessons learned from the successful implementation of the Beyond Extraction Program (2016-2020) to further scale local impact investment efforts. The effort will also draw from knowledge and projects from other organizations in Moquegua that also aim at enhancing the region's competitiveness.

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.

Not available

People Affected By This Project

People Affected By This Project refers to the communities of people likely to be affected positively or negatively by a project.

Not available

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

Inter-American Development Bank (IADB)

Technical Cooperation

Private Actor Relationship

A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

The program will deploy a systemic approach and engage with public and private sector actors that have the incentives and influence to impact the entire local ecosystem, in a collaborative effort between the IDB and local private sector entities, led by Anglo American and Mitsubishi Corp. (owners of the Quellaveco project, the largest mining project currently in construction in Peru).

Private Actors Description

Anglo American

Mitsubishi Corp.

Private Actor 1	Private Actor 1 Role	Private Actor 1 Sector	Relation	Private Actor 2	Private Actor 2 Role	Private Actor 2 Sector
-	-	-	-	Mitsubishi Corporation	Undisclosed	-

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.

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).