PROJECT

Projects

Environmental & Social Review Summary

Project Number

27689

Company Name

CORPORACION UNIVERSITARIA MINUTO DE DIOS

Date ESRS Disclosed

Feb 18, 2009

Country

Colombia

Region

Latin America and the Caribbean

Last Updated Date

Jun 3, 2021

Environmental Category

B - Limited

Status

Completed

Previous Events

Approved : May 29, 2009
Signed : Sep 7, 2009
Invested : Dec 23, 2009

Sector

Colleges, Universities, and Professional Schools

Industry

Health, Education and Life Sciences

Department

Regional Industry - MAS LAC

Project Description

The proposed IFC investment is an A loan of up to $8.0 million (to be disbursed as a Peso-linked loan) in favor of Uniminuto, a mid-sized, rapidly growing higher education institution based in Bogotá offering technical, technological and university education in Colombia. Uniminuto currently operates through a wide national network, offering flexible, cost-competitive and quality education to lower and middle income students. In line with a five-year strategic plan (2008-2012) which targets expansion from a current level of 18,000 students to over 30,000 students by 2011, Uniminuto plans to undertake investments over the next 2 years which support the physical, technical, and institutional aspects required for such growth. The total corporate program for this period is estimated at US$18 million, of which US$10 million will be dedicated to expanding student capacity in three key locations (Bogotá, Soacha, Girardot), with an additional US$4 million required for the technology infrastructure which supports the overall educational network. Other important areas of investment relate to reinforcement of quality and efficiency throughout the system.

Overview of IFC's Scope of Review

IFC’s appraisal consisted of a review of social, environmental, health and safety and social/community information submitted by Corporación Universitaria Minuto de Dios (“Uniminuto” or the “Company”). The appraisal included a three-day site visit of the headquarters in Bogotá and the university campus in Medellín. During the visit to headquarters, IFC interviewed the Rector General of the university and members of his management team, including Company officers responsible for environmental and social matters and the Human Resources manager. The visit to the Medellín campus included an interview with the Academic Vice-Dean.

E & S Project Categorization and Applicable Standard

Environmental and Social Mitigation Measures

Stakeholder Engagement