This project is still under review by the EWS. Project information and/or project analysis may be incomplete.
LAC - China Infrastructure Fund (IADB-RG-L1048)

Countries
  • China
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
Approved
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
Nov 28, 2012
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
Export-Import Bank of China (“China Exim”)
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
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.
Project Cost (USD)
$ 1,000.00 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.
Primary Source

Original disclosure @ IADB website

Updated in EWS Oct 20, 2017

Disclosed by Bank Nov 9, 2012


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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 project is to make available a pool of equity financing to infrastructure companies in the region in order to strengthen the commercial and financial link to China. The Inter-American Development Bank (IDB), in partnership with the Export-Import Bank of China (“China Exim”), is designing a platform consisting of three regional investment funds to support the economic and financial integration between Latin America and the Caribbean (LAC) and China. The LAC China Funds are expected to attract a geographically diversified pool of investors (including Chinese investors) to deploy risk capital in companies and projects operating in sectors that are vital for the development of LAC, namely infrastructure, mid-size companies and natural resources (agribusiness, energy and mining in the pre-production stage). The Funds will be (i) the LAC China Infrastructure Fund, focused on infrastructure investments, to be managed by Macquarie Infrastructure and Real Assets (a division of Macquarie Group), (ii) the LAC China Mid Cap Corporate Fund (working title, targeting mid-size companies already in operation throughout a wide range of sectors) to be managed by Darby Private Equity and (iii) the LAC China Natural Resources Fund (focused on mid-size projects and companies engaged in agribusiness, mining and energy) to be managed by a joint venture between EMP Global and SinoLatin Capital. The Infrastructure Fund is expected to have a substantial impact on the development of the region by, among other things, contributing to the enhancement of transportation and logistics facilities (roads, ports, airports, etc.) that are crucial to the competitiveness of the region and that will benefit the quality of life for millions of people. The Mid Cap Corporate Fund is expected to provide access to the long term risk capital that growing companies need in order to improve their productivity for competing in a globalized world. The Fund will accomplish this by, amongst others, enhancing management and corporate governance while at the same time providing know-how and capital that can be used for strategic corporate purposes, such as assisting in the purchase of state-of-the-art machinery, investing in new technology for the production of higher quality products and services, and expanding into new markets. The Natural Resources Fund is expected to help increase food production as well as the availability of raw material for industrial production.
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.
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).

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