Complaint > Eco Oro-01/Bucaramanga

Filing: Complaint to the CAO, June 13, 2012

COMPLAINT PRESENTED TO THE OFFICE OF THE COMPLIANCE ADVISOR / OMBUDSMAN (CAO) Re: International Financial Corporation Project No. 27961 in Colombia Presented by: The representatives of the Comité por la Defensa del Agua y el Paramo de Santurbán. The Committee is located in the city of Bucaramanga, Department of Santander, Colombia (see map in Annex 20), is made up of 40 civil society organizations that in turn represent about seventy-five thousand (75,000) persons, and can be contacted at the fo...

Complaint > Eco Oro-01/Bucaramanga

Compliance Report: English

...financial intermediary projects with minimal or no adverse risks.74 Discussion IFC’s investment in the Angostura project is similar to many other IFC early equity investments in junior mining companies. As discussed above in section 3.1, IFC’s early equity approach evaluates the opportunity to provide equity financing once a potentially commercial discovery has been made, to give support to companies to build their capacity to prepare for mine construction.75 Before investing in the project, IFC...