Company name
Coriport S.A.
Project number
CR3941A-01
N/A
E&S category
N/A
Country
Costa Rica
Sector
Energy
Status
In implementation
Disclosed date
08/04/2010
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
09/14/2010
Approval date
10/26/2010
Signed date
N/A
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 14,000,000
Financing amount
USD $ 26,500,000
Currency
N/A
Project scope and objective
Coriport is a special-purpose company that won the international public bidding for the Daniel Oduber Quirós international airport ("AIL") in Liberia, province of Guanacaste. AIL is the second largest international airport in Costa Rica; it is strategically located in an area with high tourist and economic activity. Coriport’s principal members are two well-known companies with wide-ranging experience in the international aeronautical sector: Canada’s MMM Aviation Group S.A. and the United States’ ADC & HAS. There also are several local and international minority investors represented by Inversiones Cielo Claro S.R.L., Cocobolo Inversiones S.R.L., and Emperador Pez Espada S.R.L.
The purpose of this IIC operation is to provide the company with long-term financing to build a new passenger terminal. The new terminal will enable the airport to increase both the number of passengers and the number of commercial and charter flights it can handle simultaneously, upgrade baggage handling, install modern airport security systems, and create retail and complementary service spaces to improve local and international passenger service and make their wait more pleasant, among other improvements.
However, the IIC’s main long-term objective is to boost tourist sector consolidation in Guanacaste and bring new investments to the area to spur development and diversify economic activity.
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Contact information
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Client Contact
N/A
PHONE NUMBER
N/A
POST OFFICE ADDRESS
N/A
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.
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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.
ENVIRONMENTAL AND SOCIAL REVIEW
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