Amazon Bioeconomy Marketplace (IADB-RG-T4009)

Regions
  • Latin America and Caribbean
Geographic location where the impacts of the investment may be experienced.
Countries
  • Colombia
  • Ecuador
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • IDB Invest (IDBI)
  • 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
C
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
Regional
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Industry and Trade
  • Technical Cooperation
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Advisory Services
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 0.93 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)
$ 1.23 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 May 11, 2022


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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.

To contribute to improve socioeconomic conditions, fight climate change, restore ecosystems and implement sustainable development practices in the Amazon regions of Colombia and Ecuador. To that end, the activities in this TC aim to support the development of an online Amazon Bioeconomy Marketplace (ABM) to help bio-businesses in the Amazon region increase and diversify their exports and attract investment. Specifically, the TC will focus on (i) the implementation of a market analysis to identify products, producers, buyers, local business support organizations, and other key stakeholders in the ABM, understand the key challenges that Amazon bio-businesses face when looking to enter into international markets or attract investment, and identify actions that can help overcome these challenges, (ii) the verification and certification of selected bio-businesses with the objective of increasing their access to foreign markets, and (iii) the design of blended-finance and other financial mechanisms to increase access to finance for bio-economy producers in the Amazon. Subsequent work required to develop and market the ABM, onboard bio-businesses from other Amazon countries (Brazil, Peru, Suriname, Guyana), and incorporate the bio-businesses supported under this TC into the ABM, is expected be funded with resources from the Green Climate Fund, as resources have been earmarked for this specific purpose.

The ABM will allow sellers to create company and product profiles, receive payments for those products, engage logistics and other service providers to be able to ship their products to buyers abroad, and track and manage their orders. It will also allow potential investors to find information about bio-businesses that are looking for investment and connect with them. The Marketplace will charge a fee on each transaction so that the revenue generated can be used to (i) continue funding activities that strengthen the skills and processes of local bio-businesses to increase access to foreign markets and investment, and (ii) further disseminate the Marketplace in the Amazon and abroad.

This TC will complement two IDB-led initiatives proposed to the Green Climate Fund (GCF): Amazonia 4.0 and the Leticia Platform. The preparation of this TC was led by INT in close coordination with CSD (ACU y CCS), IDB Invest, IDB Lab.

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

The countries' counterpart amount to USD 300,000.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - IDB Lab Undisclosed Finance

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