SPV establecida por los Patrocinadores para la compraventa de certificados recibidos del Gobierno de Paraguay
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.
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
Acciona Construcción S.A. y Acciona Agua S.A.
Echeverri Vargas, Juan Fernando
USD $ 150,000,000
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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IDB Invest Contact
1350 New York Ave NW, Washington, DC 20005