Plan de Desarrollo Soy Barranquilla

Project Description:

This Disclosure covers an application by Deutsche Bank AG (DB) on behalf of itself and of other potential commercial lenders yet to be identified (together with DB, the Lenders) for their proposed non-shareholder loans to Distrito Especial, Industrial y Portuario de Barranquilla (Barranquilla).

MIGA is considering issuing guarantees covering non-shareholder loans of up to US$ 200 million from the Lenders to Barranquilla. MIGA’s guarantees would be for up to an estimated US$ 635 million for a period of up to 11 years against the risk of Non-Honoring of Sub-Sovereign Financial Obligation (NH-SSFO).

MIGA’s NH-SSFO instruments will be used to support high-priority sub-projects of the city’s “Soy Barranquilla” program (I am Barranquilla). Soy Barranquilla is the 2020-2023 urban development program that Barranquilla is implementing to promote growth and boost economic activity by investing in sustainable infrastructure.

Environmental Categorization:

The Project is a category B under MIGA’s Policy on Environmental and Social Sustainability. Click here for the Project’s Environmental and Social Review Summary.

Development Impact:

The Project is expected to deliver improved infrastructure to citizens of Barranquilla by funding priority investments targeting improved access, quality, safety and environmental sustainability of public infrastructure, with a focus on underserved zones of the city. Moreover, Barranquilla has the potential to leverage its strong implementation capacity to help other municipalities integrate good E&S practices and inclusive urban development approaches into their own development planning and public investments.