Company name
Fondo BPS S.A.
Project number
14003-01
Category A projects could result in potentially significant environmental and/or social risks and impacts, which are diverse, irreversible, or unprecedented that may extend beyond the boundaries of the actual project site or facilities. In principle, Category A includes projects which have significant impacts on protected or sensitive areas21 and/ or vulnerable groups.
E&S category
A
Country
Guatemala
Sector
Transport
Status
In implementation
Disclosed date
04/11/2023
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
09/26/2023
Approval date
09/26/2023
Signed date
10/25/2023
Sponsoring entity
N/A
Investment Operations Department Contact
Portfolio Management Division
Investment type
Syndicated amount
USD $ 10,000,000
Financing amount
USD $ 55,000,000
Currency
USD
Project scope and objective
The Project consists of a Term Loan to Fondo BPS S.A., a special purpose vehicle established in Panama (the “Company”), and its shareholder BPS General Partner Corp. (the ”Sponsor”), with the purpose of executing construction, operation, and maintenance of a private 31 km toll motorway from km 142.6 CA-2 Occidente road, San Antonio Suchitepéquez Municipality, to km 172.5 CA-2 Occidente road, San Andrés Villa Seca Municipality, in Guatemala (the “Project’). The expected useful life of the asset is 40 years and is expected to be completed in approximately two years.
In addition, IDB Invest will seek to mobilize blended finance funds which will be critical to support the sponsor in the implementation of i) climate change adaptation and resilience infrastructure and ii) gender labor programs.
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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. 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.
XOCHI - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)
358.4 Kb
XOCHI - ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)
163.8 Kb
Client files
This section provides the key environmental and social assessment documents produced by the client for this project.
XOCHI - EVALUACIÓN DE IMPACTO AMBIENTAL Y SOCIAL (EIA)
20.4 Mb
XOCHI - INFORME PROCESO PARTICIPACIÓN PÚBLICA
1.4 Mb
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Contact information
For inquiries, comments and information requests about the project
Request informationAlternatively, you may also use the following contact information :
Client Contact
eaguirre@grupoidc.com
PHONE NUMBER
+502 2291 8100
POST OFFICE ADDRESS
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.
IDB Invest has zero tolerance to reprisal or retaliation against anybody who voices its opinion or opposition to IDB Invest-financed projects.
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Request informationLearn more about how we provide private-sector solutions in the region .
Early disclosure
For projects with high environmental or social risk an Environmental and Social Strategy (ESS) is prepared early on during the project appraisal and prior to carrying out the environmental and social due diligence (ESDD). The ESS includes the initial E&S risk categorization and a brief description of potential Performance Standards applicable to the project. The ESS for this project is available below. Together with the ESS, IDB Invest also provides access to the client’s preliminary E&S documents that will be reviewed during the ESDD. The client E&S documents for this project can be found under the “CLIENT FILES” section below. Once the environmental and social due diligence is completed, an Environmental and Social Review Summary (ESRS) for the Project will be published on this page.
XOCHI - ENVIRONMENTAL AND SOCIAL STRATEGY (ESS)
209.5 Kb