Company name

SPV establecida por los Patrocinadores para la compraventa de certificados recibidos del Gobierno de Paraguay

Project number

12075-01

Category B projects have potential environmental and/or social impacts and risks that are less adverse than those of a Category A and which are generally limited to the project site, largely reversible and can be mitigated via measures that are readily available and feasible to implement in the context of the operation.

E&S category
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B

Country

Paraguay

Sector

N/A

Status

Inactive

Disclosed date

04/25/2017

Projected date at which a project will be put forward for the Board of Executive Directors’ approval.

Projected board date
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07/11/2017

Approval date

N/A

Signed date

N/A

Sponsoring entity

Acciona Construcción S.A. y Acciona Agua S.A.

Team leader

Echeverri Vargas, Juan Fernando

Investment type

Financing requested

N/A

Syndicated amount

N/A

Financing amount

USD $ 150,000,000

Currency

USD

Project scope and objective

The project encompasses construction works for sanitary sewerage systems and wastewater treatment plants in the metropolitan area of Asuncion, Paraguay. The works to be carried out consist of tasks involved in the construction of primary, secondary, and tertiary sewage collectors, household connections, inspection registers, pumping stations, drive lines, treatment plants, and final disposal by means of underwater outlets (the “Project”). The project construction period is four years and once finished, the project is expected to benefit more than 1.6 million inhabitants.

IDB Group financing consists of a revolving line of capital intended to finance the construction of the Project (the “Loan”). The loan will be disbursed monthly in U.S. dollars up to an amount equal to project advances already approved by the supervisor appointed by the Ministry of Public Works and Communications (MOPC).

Once the contractor completes the works associated with one of the milestones, as these are defined in the contract, with prior review and validation from the work supervisor and the MOPC, the latter will grant a CRPago (certificate recognizing the obligation to pay) for the corresponding U.S. dollar amount. Once that certificate is issued it may not be revoked by a contract termination event and will be sold to a group of long-term investors through a contractual and trusts structure established prior to the close of financing. The cash resulting from this sale will be used to prepay an amount corresponding to principal and interest on the loan, which may again be disbursed based on progress made in the works.

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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. Any gaps with respect to the IDB Invest Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) provided below.

SCOPE OF THE ENVIRONMENT REVIEW

31.2 Kb

Client files

This section provides the key environmental and social assessment documents produced by the client for this project.

EVALUACION AMBIENTAL Y SOCIAL ESTRATEGICA DEL GRAN ASUNCION EASEGA.PDF

2.7 Mb

MOPC ASUNCION ESPECIFICACIONES TECNICAS AMBIENTALES GENERALES METAGAS.PDF

1.6 Mb

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Contact information

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Alternatively, you may also use the following contact information:

Client Contact

CONTACT NAME

N/A

POSITION

N/A

PHONE NUMBER

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EMAIL

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IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

COUNTRY OFFICES

IDB Invest Country Offices