Universidad Javeriana was established as a tertiary education institution in 1933 (while being founded in the 1600’s under the Spanish colony charters by the Jesuit order, Compañia de Jesus). It is non confessional; its educational offering is not focused on religious education and the university enrolls students irrespective of religious background. It is a non-profit institution, reinvesting all its surpluses back into the institution to better serve its education mission. It has no shareholders, and is led by a Council of Regents (members of the Society of Jesus and independent leaders).

Total Project Cost is US$ 94 million, to span a construction period of 7 years, for infrastructure expansion in the existing Javeriana campus, as follows:
Construction and equipping of a new main student building (University City). This will be a teaching building as well as for common areas (libraries, meeting rooms, conference rooms)
Construction of new Engineering, and Science faculty buildings and demolition of 14,400 m2 of these old faculty buildings.
Construction of Health Sciences buildings (medicine / nursing)
Construction of Calle 125 continuing education teaching building

The proposed IFC investment is a US$ 30m A-Loan (COP linked), for IFC’s own account.

30.0 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	30.0
Equity

* These investment figures are indicative

The Project involves the expansion of the existing campus in Bogota, Colombia; all located in urban areas. These expansions include Engineering Labs, main entrance building, medical and sciences labs, Calle 127.

- Promoting quality tertiary education services in Colombia: Javeriana is investing in professors, lab spaces, arts and sciences buildings, and research. It will remain as one of the leading universities in the country. It has received 8 years of high standards voluntary institutional accreditation.
- Generating Qualified employment: Javeriana will continue to graduate highly qualified individuals, with strong ethics and adequate professional technical and soft skills. These individuals will not only continue to have high employability given the high relevance of Javeriana''s programs to the job market, but also have very strong community skills. These will be critical in post-conflict Colombia, where leadership in the regions will be necessary.
- E&S: Javeriana will implement IFC Performance Standards in the different faculty and administrative areas. It will also implement recommendations from IFC''s Green Building specialists (Key Performance Indicators) for suppliers in construction and maintenance contracts. Javeriana will also continue leading by example in the area of sustainable resources (energy, water). Also, as Javeriana has leading architecture, engineering and environmental studies faculties, it wishes to implement these EDGE concepts in its academic curriculum. Finally, IFC will continue to collaborate with Javeriana in the design of the EDGE certification for Education institutions.

- Large ticket, long-term financing: IFC can provide Javeriana with a large Loan amount, providing the management with comfort that the entire financial resources for its long term project will be available. Javeriana has financed itself in the past with medium term (5 yr) government subsidized loans that were available on a yearly basis. Javeriana has seen that these funds are more limited given national budget fiscal restrictions due to the lower oil prices.
- Industry expertise & South-South collaboration: IFC can provide Javeriana with education best practices advice, derived from lessons learned from IFC''s education portfolio clients. Given IFC''s active relationships with similar universities in LAC, Javeriana could benefit from sharing experiences with these clients. Javeriana could also showcase to these existing clients, its endowment experience.
- E&S Standards: IFC can provide E&S best practice standards to Javeriana, including Green Building/EDGE specialist advice, which is critical as Javeriana engages in construction of new landmark buildings.

Key environmental and social impacts associated with this project include (i) management of environmental and social risks during construction and operation; (ii) adherence to Colombia’s labor and working laws, standards and practices during construction (contractors and sub-contractors) as well as OHS risk prevention and management during operations (employees, professors, students, contractors, nearby communities), (iii) Life and Fire Safety (L&FS) provisions and emergency preparedness and response; (iv) optimization of water and energy use through project design (“green building”) and resource conservation measures (lighting, energy efficiency and water use), (v) treatment and disposal of solid and hazardous wastes, hazardous materials handling; and (vi) engagement with local communities.



The proposed investment qualifies as a Category B project as defined by IFC’s Environmental and Social Sustainability Policy (2012) because of potentially limited environmental and social impacts that may result from the expansion and operation of the existing facilities, all of which can be avoided or mitigated by adhering to generally recognized good practices and design criteria. The company has objectives and plans that seek to address environmental and social risks and impacts in accordance with country laws and relevant IFC Performance Standards (PSs), including the applicable elements of the World Bank Group (WBG) General Environmental, Health, and Safety (EHS) Guidelines; and the attached Environmental and Social Action Plan (ESAP).

Please refer to the related Environmental and Social Review Summary (ESRS) document for this project.

Please refer to the Environmental and Social Action Plan (ESAP) tab in the related Environmental and Social Review Summary (ESRS) document for this project.