Lima, Peru, April 22, 2010—IFC,
a member of the World Bank Group, is providing $50 million in long-term
financing to Cálidda that will help provide gas connections to more than
45,000 Peruvian households in the next two years. IFC’s role was also
critical in the transaction, mobilizing an additional $35 million in financing
from the Infrastructure Crisis Facility ICF Debt Pool LLP.
IFC’s financing is part of a $135 million package which also involves
the Andean Development Corporation. The funding will help Cálidda,
the company in charge of gas distribution in Lima and Callao, expand capacity
of its distribution network from 255 million cubic feet to 420 million
cubic feet a day. This funding will support implementation of Cálidda’s
$200 million investment plan for the next four years.
“This financing is designed to provide natural gas connections to more
than 500 industries 160,000 cars and over 108,000 households in Lima and
Callao will be connected to natural gas by 2013, generating more than $900
million savings in fuel a year,” said Ernesto Córdova, General Manager
Bernard Sheahan, IFC Director for Infrastructure, said, “This investment
shows IFC’s commitment to promoting the use of natural gas in Peru, bringing
the benefits of cleaner and cheaper fuel to diverse industries, households,
and the automotive sector.”
The Infrastructure Crisis Facility is a joint initiative by IFC, KFW, and
Proparco. It is designed to support private and public-private partnership
infrastructure development throughout emerging markets and developing countries.
The facility pools funds from member governments for cofinancing
of infrastructure projects with a number of international financial institutions
on a matching basis.
IFC’s strategy in Peru addresses private sector challenges, with a focus
on fostering sustainable development. Key sectors include infrastructure,
financial, microfinance, agribusiness, and tourism. IFC also provides
added value to clients in extractive industries, helping raise social and
environmental standards and increase impact in local communities. Since
Peru became member of IFC in 1956, IFC has invested $1.8 billion in the
country’s private sector.
IFC, a member of the World Bank Group, creates opportunity for people to
escape poverty and improve their lives. We foster sustainable economic
growth in developing countries by supporting private sector development,
mobilizing private capital, and providing advisory and risk mitigation
services to businesses and governments. Our new investments totaled $14.5
billion in fiscal 2009, helping channel capital into developing countries
during the financial crisis. For more information, visit www.ifc.org.
Cálidda manages the natural gas distribution services in the Department
of Lima and the Constitutional Province of Callao, operating under a grant
provided by the Peruvian government for a renewable period of 33 years.
Cálidda’s shareholders are AEI, owner and operator of essential infrastructure
in emerging markets, and Promigas, an energy assets pioneer in transport
and natural gas distribution in Colombia. For more information, visit