(ADM)-Canadian Facility for the Extractives Sector (CANEF) (IADB-RG-T2781)

Countries
  • Canada
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
Active
Bank Risk Rating
U
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.
Voting Date
Mar 30, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Sectors
  • Energy
  • Mining
  • Technical Cooperation
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)
$ 2.11 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 2.40 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IADB website

Updated in EWS Jun 17, 2019


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Project Description

The general objective of the Canadian Facility for the Extractives Sector (CANEF) is to provide innovative and sustainable solutions for challenges in the extractive sector in Latin America and the Caribbean (LAC) that contribute to social, environmental and economic sustainability. The specific objectives of CANEF are to support the generation of strategic regional public goods that (i) foster long-term perspectives for sector development and responsible investment, and improve cross-sector collaboration and institutional strengthening; (ii) provide technical expertise and resources to tackle specific sector issues, and (iii) facilitate knowledge and technology exchanges. In addition, CANEF will support technical assistance activities in at least three countries that (i) strengthen institutional and regulatory frameworks and improve technical capacity; (ii) facilitate stakeholder coordination, investment planning and execution; and (iii) foster local economic development opportunities.

Investment Description
  • Inter-American Development Bank (IADB)

The total cost of this non-reimbursable technical cooperation project is US$2.40 million, of which the IADB will be funding US$2.11 million.

Contact Information

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).