Company name
A&A Arroyo y Asociados S.A., Air Care Corp.
Project number
12372-02
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.
E&S category
B
Country
Panama
Sector
Social Infrastructure
Status
Inactive
Disclosed date
03/22/2019
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
08/25/2019
Approval date
N/A
Signed date
N/A
Sponsoring entity
HMG Investment Corp.
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 9,200,000
Financing amount
USD $ 16,000,000
Currency
USD
Project scope and objective
In 2017, through a public tender process, the Ministry of Education of Panama (MEDUCA, for its Spanish acronym) awarded 10 construction contracts to the contractor A&A Arroyo y Asociados ("A&A") for the design, demolition, remodeling and construction of 28 rural schools located in vulnerable and difficult to access regions of the Ngäbe-Buglé district and the provinces of Bocas del Toro and Coclé. The purpose of this MEDUCA initiative is to eradicate 189 aulas rancho (rustic, one-room rural schools), located mainly in the most isolated and poorest areas of the country, and replace them with modern infrastructure that meets the optimal criteria that the MEDUCA has defined with advice from the Inter-American Development Bank (IDB).
In September 2017, A&A formed a private consortium called Consorcio Escuelas Siglo XXI with Air Care Corp. and HMG Investment Corp., in order to combine the resources of each sponsor for the funding and execution of the construction contracts.
The IDB Invest loan seeks to provide two years of funding for the construction expenses associated with the contracts. The total cost of the project is US$39.27 million, which will be funded through a class A IDB Invest loan of up to US$16 million and a loan from IDB's Chinese Fund of up to US$8 million. The funding plan will be completed with the contribution of "B" loans and other capital contributions. Through this loan, IDB Invest aims to improve the current state of the infrastructure in rural and isolated schools in the mentioned areas and provide optimal conditions for the learning and development of approximately 302 teachers and 5,488 students, in line with the IDB and Panama’s 2015-2019 strategy to strengthen the educational profile of the population. The new schools will be equipped with modern classrooms, electricity, water, sanitary systems and, in some cases, with solar panels to provide renewable energy.
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
Client files
This section provides the key environmental and social assessment documents produced by the client for this project.
ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY.PDF
175.5 Kb
ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP).PDF
105.6 Kb
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
Contact information
For inquiries, comments and information requests about the project
Request informationAlternatively, you may also use the following contact information :
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.
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
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
31.5 Kb