devinitorg/iati-policy-markers huggingface dataset:
Fundacion Social IFC is considering providing Fundación Social (the Fundacion) a long term loan of up to $50 million part of which may be exchanged into equity in any of the Fundacions investee companies. Following the appraisal the management team at Fundacion and IFC will jointly agree on the specific terms for this investment. This investment will allow IFC to support the activities of an entity which has an impressive track record of investing in socially responsible projects and targeting lower income households as its core clientele.    The Fundacion is regarded as a strong sponsor and has proven its ability to  work with its investee companies through rough periods. Aligning with the Fundacion will provide IFC with a strong local partner which can facilitate further joint ventures going forward. This project will make IFC a proactive partner involved in steering the investment strategy of the Fundacion and move them further towards developing sustainable and financially sound private sector investments geared at providing services to the lower income segments of society.
Bog Transmicable IFC is considering a US$ 30 million loan to the City of Bogota (the City) for the financing of the construction of Transmicable (Project id. 39772), a 3.4 km aerial cableway that connects Ciudad Bolivar to the Transmilenio Trunk System. The project is expected to benefit approximately 669,000 habitants of Ciudad Bolívar.  This project is part of a larger engagement with the City to support the development of the transport system that would include also a US$ 120 million loan to finance the Caracas Sur busway expansion (Project id. 38347). The Transmicable project is part of a larger IFC engagement with the City of Bogota to support the development of the transport system; this engagement also entails the development of the Caracas Sur busway expansion. The overall expected development impact of this engagement is the following: 


1.Project level-outcomes: 

-Improved quality of transport service. The projects improve the quality to public transportation services particularly for low income users in Bogota. Transmicable connects a low-income area of the City (Ciudad Bolivar) to the City's main public transport system (Transmilenio BRT) and Caracas Sur entails the provision of exclusive bus lanes to a segment of the BRT network where traffic is currently mixed. The quality improvement will result from reduced congestion and increased frequency of service. Users are expected to save ~8.2 million hours per year (6.2 million Transmicable and 2 million Caracas Sur) which results in approximate savings for users of US$ 18.3 million (US$ 14.7 million Transmicable and US$ 3.6 million Caracas Sur) per year. 

-Environmental effect and climate change mitigation. The projects will reduce CO2 emission by approximately 445 tons p.a. on average during operation (134 Transmicable and 311 Caracas Sur) by replacing existing buses fleet and lowering congestion and travel times. 


2.Market Creation: 

-Integration. The projects will enable the development of new economic activities and clusters. Transmicable is part of an urban renovation project in Ciudad Bolivar. The plan entails the construction of parks, recreation centers and general service centers as well as promotion of businesses, tourism. The project puts in place infrastructure that enables the development of new economic activities (including commercial retail and recreational areas), thereby employment creation and promoting tourism in the area, among other activities. 

-Inclusiveness: the projects will continue demonstrating the transformational effect of redeveloping low income urban areas. Transmicable strengthens the evidence that increasing access to markets and services for low income areas generates viable opportunities for private sector participation, economic development and poverty reduction. The projects can serve as a model to be replicated in other low-income areas in Bogota and across Colombia.
Banco Caja Social/Colmena Banco Caja Social is a $510 million bank focusing on lower income clients.  It is the 10th largest bank in the Colombian system in terms of total assets.  Despite a strong capital adequacy ratio and the second best quality portfolio in the system, BCS has historically been among the most profitable banks in the Colombian banking system.  As of August 2001, its profitability ratios of 25.6% ROE and 4% ROA were the highest in the system.  BCS has developed a hybrid business model of good consumer banking practices and innovative microfinance underwriting.    95% of BCS clients are individuals, either salaried or self-employed.  78% of clients make less than $5,000 per year and 70% have only a basic education.  Households and businesses represent the largest use of loans, followed by vehicle loans, then unrestricted loans, and finally, working capital loans.    The project will have a positive development impact, including: 1) increasing the availability and safety of savings products for the poor; 2) increasing the availability of formal productive credit and lowering the cost of this credit to low income borrowers; 3) increasing the geographic reach of BCS and 4) allowing BCS to move into markets that have been underserved following the collapse of many of Colombia''s cooperatives.  The availability of credits will allow small entrepreneurs to expand their operations, in turn generating employment.  The home improvement loans and business loans allow clients to begin to accumulate assets, in turn allowing them to better withstand economic downturns.    The client is also eager to benefit from IFC''s growing expertise in low-income banking.  IFC could play an important role in trying to get BCS''s low- income banking methodology implemented in other countries.  BCS and IFC have discussed the implementation of sound environmental and social policies and BCS will be receiving additional training in this subject in February.
Bolivar EQ Project Currently, the insurance companies of Sociedades Bolivar S.A. (the Group or Bolivar), Compañía de Seguros Bolivar S.A., Seguros Comerciales Bolivar S.A. and Capitalizadora Bolivar S.A. (together, the Insurance Companies), hold a number of the Groups operating companies and other non-insurance related investments as part of their investment portfolio.  In order to maximize transparency and improve corporate governance standards, while complying with local regulatory requirements, the Group has decided to eliminate all of its cross-investments and to undertake a corporate reorganization. The potential developmental, institutional and capacity building impact of the project is high.  In addition to a greater transparency, which will flow from the financial reorganization, the re-capitalization proposed for the Group will help reinforce the local insurance industry in the Andean Region and help Bolivar to be better equipped to compete. 

Insurance companies have a disproportionately high impact on economies because they are necessarily large investors who directly affect the general economy through their operations.  In order to settle claims that may arise, insurers invest excess premium income to build a portfolio of financial assets and income-producing real estate which can then be called upon to pay-off any future claims that may arise.  Therefore, a vibrant insurance industry can be a reliable source of long-term capital, which is lacking in Colombia.  The provision of quality insurance is therefore crucial for the development of a healthy and dynamic private sector and long-term financial markets.
Finanzauto Loan The proposed investment consists of a US$70 million senior secured loan to Finanzauto S.A. BIC (Finanzauto or the Company), a company that operates in Colombia providing financing options for the purchase of vehicles to individuals and micro, small and medium enterprises (MSMEs). The proceeds of the loan will support the Company in increasing access to finance for certain segments of the population that remain underserved, specifically: (i) MSMEs and independent and self-employed individuals involved in productive activities(ii) WMSMEs, (iii) women, and (iv) climate-smart projects, in the form of Hybrid and Electric Vehicles (HEVs) (the Project). Stakeholder effects - Access to finance for MSMEs and WMSMEs. The proposed project aims to increase access to finance for MSMEs and WMSMEs in Colombia. The MSME financing gap in the country is estimated at US$38.6 billion or 13% of GDP. By increasing access to finance for MSMEs, including WMSMEs, IFC expects the project to help reduce this financing gap.  


Stakeholder effects - Access to climate finance. IFC expects the project to increase access to climate finance through the financing of HEVs for individuals and MSMEs, thereby reducing GHG emissions in the country.


Market creation effects - Competitiveness: The Project is expected to demonstrate the business opportunity of underserved MSMEs and WMSMEs to other lenders, leading to replication that will improve competitiveness through an increased supply of financial services and products to these underserved segments. 


Market creation effects - Sustainability: IFC expects the investment to promote greater environmental sustainability by scaling up the emerging green financing in the transport sector and by conducting HEV awareness activities for individuals and MSMEs.
DARP Reinteg II This Distressed Asset Recovery Program (DARP) investment will help to address the early impacts of COVID-19 on the financial system in Colombia.  The proposed transaction (DARP Reintegra II or Reintegra II), is a repeat transaction and consists of a DARP platform dedicated to acquiring retail and micro small and medium-sized enterprises (MSME) non-performing loan (NPL) portfolios originated by Bancolombia S.A., the largest bank in Colombia. Reintegra II is expected to have a total capitalization of up to US$70 million, with an IFC investment of up to US$30 million in the form of junior tranches. Other investors include Banca de Inversión Bancolombia S.A. Corporación Financiera (BIB) and Covinoc. The Project will contribute to the resilience of the Colombian financial system by increasing the development of the DA market in the country, especially in the context of the COVID-19 pandemic, in which the amount of NPLs is expected to increase significantly. The Project will enable Bancolombia, the largest financial institution in the country, to offload non-performing assets, thereby freeing up capital and resources to be recycled towards new lending. Furthermore, the offload of non-performing assets will in turn lead to the normalization of the obligations of defaulted borrowers, making them creditworthy again.
Finandina Loan 1 The proposed project consists of a 5-year loan for up to US$40 million to be provided by IFC to Banco Finandina S.A. (Finandina or the Bank") to support its lending activities to small and medium enterprises (SMEs) in Colombia (the Project).   Banco Finandina holds assets and equity for US$574.9 million and US$77.7 million, respectively, as of March 2015. The Bank employs 653 staff across the country. IFC''s long-term financing is expected to improve access to finance for SME''s, particularly those in the transport sector which is critical for Colombia. The project will also support Finandina''s growth, improving the access to finance for SMEs thereby enhancing economic activity leading to job creation and economic dynamism.
MovilRed Project MovilRed (operated by Tranza S.A.S., the Company) is the leading distributor of prepaid cellular phone airtime in Colombia with the largest network of point of sale made up of 80,000 large and small retailers. MovilRed business was created in 1998 as part of CellStar Colombia, a distributor of mobile telecommunication equipment in Colombia, a subsidiary of US company CellStar Corp. CellStar Colombia was acquired by two Colombian entrepreneurs in a management buy-out in 2004, which became Solidda Group S.A.S. in the following year.  In 2010, Solidda Group spun off the MovilRed business into a new separate entity called Tranza S.A.S. to obtain a money transfer license. Since then the Company expanded its business lines to domestic money transfer, bill payment, correspondent banking and public transportation recharge services. IFC is considering a potential equity investment of up to US$10 million in the new holding company of Tranza S.A.S. to help the Company becoming one of the key payment service providers and an important partner for banks to offer financial services to the underbanked population in Colombia. Facilitation of electronic payments: The expansion of MovilRed''s network financed by IFC will create an important part of the infrastructure required to convert cash into electronic payments and for the acceptance of electronic payments. Making payments electronically rather than in cash has shown to generate greater efficiency that is estimated to reach up to 3% of GDP of developing country economies.   Financial Inclusion: MovilRed will make a significant contribution to increase the availability of financial services in Colombia. The company has over five times more points of sale than there are bank branches in Colombia. IFC''s investment will enable the company to leverage this retail network to provide basic financial services ranging from deposits and domestic remittances to simple payment services to the large underbanked population in Colombia.  Internet Access for SMEs: MovilRed has entered into an agreement with a major PC manufacturer and an ISP to provide PCs and Internet to small retailers. The Colombian government is supporting this activity with grant funding.
Century Hydros The project consists of the development, construction and operation of two small run-of-river hydropower plants in the Guadalupe river basin, 95 kilometers (km) north of the city of Medellin, in the Antioquia Department in western Colombia. The two plants, Caruquia S.A. (9.5MW) and Guanaquitas S.A. (9.8MW) are expected to begin commercial operations in late 2009 and early 2010, respectively. The project is expected to generate positive development impact through:   - Increasing energy supply:   The project will contribute to increasing Colombias installed power generation capacity and supplying additional electricity to meet the countrys growing energy demand.   - Provision of clean, renewable energy:   The project will generate clean, emissions-free electricity from a renewable resource and thereby contribute to mitigating climate change impacts.   - Low cost source of energy:   Run-of-river hydropower is a very low cost source of electricity and thus the project will assist in increasing the portfolio of lower cost hydropower generation assets in Colombia.  - Fiscal transfers to government:  The project will generate revenues to the government through payments for use of water from the Guadalupe river, sector charges and income tax payments.
Omimex Oil Project Omimex, an independent energy company engaged in the exploration and production of crude oil and natural gas, has requested financing from IFC to fund the further development of its various Colombian heavy oil fields as well as the expansion of the companys 100%-owned Colombian pipeline.  Having been in the country since 1994, Omimex has gained significant experience in the Middle Magdalena Basin, an increasingly active area for oil development located 125 miles northwest of Bogota.  The company currently produces from three existing fields (Velasquez, Teca, Nare) in the basin, but plans to increase production through a multi-year, staged development program.    IFC''s proposed loan will help finance a project which has four key development impacts.  First, the project represents a significant investment in a poor and underdeveloped region of the country.  Construction and operation will create many primary and secondary local employment opportunities in the area.  Second, further investment in the companys oil fields will allow them to be exploited to their full potential and help boost the countrys declining production.  Third, the project will supply oil to a local refinery which will, in turn, free up higher-quality crude for export.  Fourth, the project will provide a valuable source of revenue to Colombia through royalties and taxes.    IFC has several important roles to play in this project.  First, the weak Colombian economy and negative perceptions of physical security have made it difficult for companies to secure long-term financing at reasonable costs from commercial sources.  IFC will therefore play an essential role by providing economic funding with reasonable maturities.  Second, IFC involvement will support the governments attempts to promote and attract new private sector investment in the oil and gas sector.  Third, IFC will contribute to the projects sustainability by working closely with the company to build and enhance its institutional capacity regarding project and financial management as well as developing an Environmental and Social Management System at the corporate level that can be applied to all future projects.
PetroNova Project PetroNova Inc., is a small independent oil and gas exploration company with operations in Colombia and listed on the TSX Venture Exchange.  The company has interests in five exploration blocks located in the Caguan-Putumayo Basin and the Llanos Basin, namely the PUT-2, the Tinigua, CPO6, CPO7 and CPO13.   According to its business plan, the company is carrying on an exploration program that includes acquisition of seismic and drilling of exploration wells. The Project consists of the exploration program for 2012 and first quarter of 2013. IFC''s investment will be used for early exploration activities.  Development impacts for exploration activities are typically limited and at this stage mainly limited to some local employment and procurement.   If the exploration efforts are successful, significant development impacts are expected to be realized, including:  i) Creation of local employment opportunities through direct hiring and indirectly through PetroNova''s contactors.    ii) Fiscal benefits to the Government of Colombia through royalties and income taxes.   iii) Procurement of oilfield services and supplies from local and regional sources, thus fostering local economic development.
ESIP Liftit 2018 0  0  0  0  0  0  0  0  0.0000             Liftit (the Company) is an asset-lite, B2B e-logistics technology startup, that provides affordable and efficient urban cargo delivery services from distribution c  enters to retail stores   or to end consumers  .     The Company, headquartered in Bogota, Colombia, was founded in 2016 by American and Colombian serial entrepreneurs Brian York, Angel Celis and Felipe Betancourt. The proposed IFC investment (Project) consists of an equity minority stake to support Liftits expansion into Mexico and further buildout of a sales and technology team. -	Support the Growth of SMEs: Liftit's services supports the development of SMEs by reducing their freight costs. As the Company grows, it expects to positively impact hundreds of more SMEs across Latin America.  
-	Improving Livelihoods of Drivers: Lifit currently has almost 3,000 drivers on their platform, of which a majority use the Company as their sole tech-enabled delivery platform, making it their main source of income. Liftit improves the average driver's income by 57%, and provides other benefits including access to digital banking products, cash advances for gasoline purchases and discounts for truck parts.
-	Reduced GHG Emissions: Through route optimization and eventually consolidation of loads, the Company reduces the amount of trucks needed, leading to reduced GHG emissions and delivery-induced congestion.
Elecnorte Guajira Transmission Lines The proposed project entails the construction of a 138km, 100kv regional transmission line in La Guajira, Colombia (the Project).   Following an open tender process, the Colombian Energy Planning National Authority (UPME) awarded this Project to Elecnorte S.A.S (Elecnorte or the Company). The project comprises the design, construction, operation, and maintenance of the regional transmission line for 25 years and the refurbishment of three existing sub-stations. Project level-outcomes: Stakeholders impact on customers/users and community

-Impact on reliability: The project will help reduce the power outages for the region, reducing the length of the power outages and reducing the average transmission and distribution loses. On 2016, power outages reached in total 96 hours in the Caribbean Coast, one of the highest in the Country and well above the 36 hours in average of the country. This Project will help to stabilize and improve the system quality and reliability in La Guajira which is the second poorest region in the country with high income inequality. The project is expected to benefit more than 155,000 costumers (approx. 1 million inhabitants in La Guajira). 

-The Impact on Community: The project will create job opportunities to the local community mainly during construction phase. creating employment on the region.

Market creation 

-Inclusiveness: Accessibility to a reliable power system for BoP customers in La Guajira, one of the regions with the highest income disparity and lowest access to electricity services in the country.
Procafecol Project Procafecol (Procafecol or the company) is a coffee retailer with a total of 58 coffee shops (cafés): 46 in Colombia, 10 in the U.S., and 2 in Spain. The company operates under the Juan Valdez brand and sells primarily fresh-brewed coffees, beverages and coffee beans through its company operated cafés (about 85% of revenues), and coffee beans through third party retailers (supermarket chains in Colombia, the U.S., Mexico and Canada) and institutional clients.   The company intends to position itself as the leading coffee retailer in Colombia and plans to continue expansion of its retail operations primarily in Colombia and South America. The companys proposed expansion will contribute to generate significant direct employment through hires and indirect employment through sourcing of food and other supplies in local communities. The growth and success of the company will, in turn, support the continued development and strengthening of the Colombian homegrown Juan Valdez brand.   The company sources the bulk of its inputs from local Colombian producers. The proposed investment will translate into increased income stream for Colombian coffee growers and thereby improve their living standards. In addition, this project, while not in a conflict area, supports the Government on-going strategy of supporting rural economies with the ultimate goal of reducing rural violence and promotes coffee as an alternative to illicit crops.
Pichincha SL The purpose of the proposed transaction is to support Banco Pichincha S.A in Colombia (the Bank or Pichincha) through subscription to bonds to be issued by the Bank, which would facilitate resources for existing operations and expansion of its lending to small and medium enterprises (SME) and students.   Pichincha has its origins in 1964 as a non-bank regulated financial company. It was acquired by Grupo Pichincha C.A. (the Group) in 1998 and renamed Inversora Pichincha. After achieving national coverage and a critical mass of clients, Inversora Pichincha was finally transformed into a commercial bank in 2011. Pichincha has positioned itself as a consumer focused bank, with education and payroll-deduction loans as its main products. The Banks corporate lending focuses mostly on SMEs rather than large companies. The development impact of IFC''s investment in this project is expected to be high given that it will improve the Bank''s capacity to support SMEs and students, which will in turn stimulate growth, employment and poverty reduction. The Bank will be able to increase its outreach and sustainability, incorporating thousands of new entrepreneurs to the formal financial sector. The transaction, which will be structured as a bond, will also contribute to the development of Colombia''s capital markets.