The Troncal del Magdalena II (TM2) Project consists of the development, operation, and maintenance of an approximately 272 km tolled road corridor between Sabana de Torres and Curumaní, in the departments of Santander and Cesar, Colombia. The project includes (i) the rehabilitation and repair of existing road infrastructure inherited from the former Ruta del Sol 2 concession; (ii) the construction of approximately 99 km of additional lanes and bypass roads; and (iii) land acquisition and ongoing operation and maintenance activities. In 2022, Colombia’s National Infrastructure Agency awarded the approximately 24-year concession to Autopista del Río Grande S.A.S. (ARG). In March 2024, the International Finance Corporation (IFC) approved an investment of up to COP 661,500 million (approximately US$135 million) in ARG to support the execution of the TM2 project.  

In March 2026, CAO received a complaint related to land acquisition carried out in connection with a road construction project supported by ARG. The complaint raises concerns spanning property rights, economic displacement and compensation, resettlement and vulnerability, access to information and meaningful participation, and the adequacy of relevant institutions’ grievance mechanism in responding to the complainants’ concerns. CAO noted that the Independent Consultation and Investigation Mechanism (MICI), the accountability mechanism of the Inter-American Development Bank, had previously received a complaint related to the same project.

In March 2026, CAO found the complaint eligible and conducted an assessment. During the assessment, the complainants expressed interest in participating in a CAO-facilitated dispute resolution process, while the IFC client preferred that the case be transferred to CAO’s Compliance function. The Assessment Report is available in English. As the parties did not agree to pursue dispute resolution, the case has been transferred to Compliance for an appraisal of IFC’s environmental and social performance related to the project, in accordance with the CAO Policy.