Support For Panama's Transport and Logistics Sector Reform Program II (IADB-PN-L1119)

Countries
  • Panama
Geographic location 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
Completed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
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
May 11, 2016
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.
Sectors
  • Transport
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)
$ 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.
Project Cost (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.
Bank Documents
Primary Source

Original disclosure @ IADB website

Updated in EWS Jun 22, 2017

Disclosed by Bank Jan 6, 2016


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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 objective of the program is to help improve Panama's logistics performance by reducing regulatory and institutional restrictions that limit the country's performance, primarily in the following areas: (i) value-added logistics services; (ii) logistics that support the agriculture sector; and (iii) logistics that support regional trade. The program's specific objectives are to: (i) strengthen the legal and regulatory framework; (ii) consolidate the institutional framework for transport and logistics; and (iii) strengthen the multisector planning and trade facilitation system, which will help to improve investment planning in the transport and logistics sector, expand the surface area devoted to logistics in use, reduce customs clearance time for freight, and provide human resources for the logistics area. This operation is the second loan in a series of three consecutive single-tranche operations, technically related to one another but independently financed as programmatic policy-based loans.
Investment Description
Here you can find a list of individual development financial institutions that finance the project.
The program is structured under the programmatic policy-based loan modality, and is comprised of three separate but technically related operations. This second operation will be for up to US$200 million, with a single disbursement scheduled for 2016. The public system’s gross financing needs for the period 2015-2019 are estimated at US$12 billion,54 or US$2.4 billion per year. This operation is therefore equivalent to 8.3% of needs in 2016. The definition and amount of the third operation will be based on the country’s financing needs and the programming exercise with the Bank.

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).

How it works

How it works