Latin America & the Caribbean
Honduras / CAMIF-01/ Intibucá
IFC is an investor in the Central American Mezzanine Infrastructure Fund (CAMIF), a mezzanine fund that invests in operating and new medium-sized companies/projects in infrastructure and related sectors in Central America, Dominican Republic, Mexico and Colombia. The Fund will be managed by EMP Latin American Management LLC, part of the network of EMP Global, an independent private equity fund manager based in Washington, DC. The target size of the fund is between $150 and $300 million. IFC’s investment is US$40 million.
In October 2013, a Honduran indigenous movement known as the Consejo Cívico de Organizaciones Populares e Indígenas de Honduras (COPINH) filed a complaint with the CAO regarding one of CAMIF’s sub-projects. The complainants claim that the ancestral lands of the Lenca community have been improperly seized in order to make way for the sub-project, and that lack of consultation with indigenous people means the concession has been granted illegally. The complainants believe their land, water resources, livelihood and culture are in jeopardy. They further contend that since voicing their opposition to the project, the area has been militarized and the Lenca communities and their leaders have been forcefully persecuted, criminalized and suppressed – often with the involvement of security forces.
CAO found the complaint eligible for further assessment in November 2013 and began an assessment of the complaint. After learning from the IFC and CAMIF that as of December 2013 the sub-project was no longer being considered for investment, CAO has concluded its involvement in the case as it no longer falls within CAO’s mandate. Further details are captured in CAO's Assessment Report, which is available under "View Documents" below.
This case was closed on January 9, 2014.
Updated: January 15, 2014
- Project Name & Number
- CAMIF 26590
- Central American Mezzanine Infrastructure Fund LP
- XX - Other
- Latin America & the Caribbean
- Environmental Category
- $40 million
- Eligible: Completed
- Assessment Period: Closed