Company name
Inversiones y Asesorías en Telecomunicaciones e Informática S.A.
Project number
11620-01
Category C projects are those that are likely to result in very limited or no adverse environmental or social impacts or risks.
E&S category
C
Country
Chile
Sector
Energy
Status
In implementation
Disclosed date
09/21/2016
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
10/20/2016
Approval date
12/22/2016
Signed date
05/04/2017
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 15,988,200
Financing amount
USD $ 7,000,000
Currency
CLP, USD
Project scope and objective
The Project consists of a senior IIC A loan of up to the Chilean peso equivalent of US$10M with a 9-year tenor and 1-year grace period. The total project costs are expected to be approx. US$15M and the structure includes a first-loss guarantee of up to US$6.05M from the Clean Technology Fund (CTF). The proposed loan will support Itelecom in developing and installing high efficiency LED technology for public street lighting in Chilean municipalities under an innovative third party, structured financing model. The municipalities expected to be included in the program will be Melipilla, Cartagena, San Javier, Villa Alemana, and Coyhaique. The innovative use of blended climate finance will enable the demonstration of a highly scalable and replicable financing model in the municipal street lighting sector in Chile and throughout the LAC region.
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Contact information
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Client Contact
N/A
PHONE NUMBER
N/A
POST OFFICE ADDRESS
N/A
IDB Invest Contact
requestinformation@idbinvest.org
PHONE
+1(202)-566-4566
ADDRESS
1350 New York Ave NW, Washington, DC 20005
COUNTRY OFFICES
IDB Invest Country OfficesIndividuals or communities can submit complaints and concerns related to environmental, social, or corporate governance issues to the Management Grievance Mechanism by e-mailing mgm@iadb.org or by calling +1 202 312 4040.
As a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism by writing to mecanismo@iadb.org or MICI@iadb.org or calling +1(292) 623-3952.
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
Environmental and social review
IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.
ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY
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