Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Panama
Location: Province of Colon
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • Inter-American Development Bank (IADB)
Status: Approved
Bank Risk Rating: U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2016-12-06
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: Gas Natural Atlántico S. de R.L.
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Construction
  • Energy
Investment Type(s): Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 50.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD): $ 900.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.

Currency conversion note:
Bank reported
Converted using 2015-10-20 exchange rate.

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Primary Source

Original disclosure @ IADB website
Updated in EWS: 2017-06-25
Disclosure Date: 2015-10-20
Costa Norte Gas-fired Thermal Power Plant and LNG Terminal Project
IADB-PN-L1123

Project Description
This project provides loans to finance the design, construction, and operation of an LNG natural gas power plant and a 15 km transmission line connecting to the national electric grid. Natural gas for the project will be delivered via large ships. The project is intended to provide 3000 gigawatt hours of electricity per year.
Investment Description
Contact Information
Contact Information for Attorneys for Gas Natural de Atlántico: José Gregorio De Sousa Costa: +507-2062600 Glaister Tejada: +507-69302349 ACCOUNTABILITY MECHANISM OF IADB The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IIC)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IIC is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).
Bank Documents