Company name

Belize Sugar Industries Limited

Project number

12295-02

Category B projects have potential environmental and/or social impacts and risks that are less adverse than those of a Category A and which are generally limited to the project site, largely reversible and can be mitigated via measures that are readily available and feasible to implement in the context of the operation.

E&S category
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B

Country

Belize

Sector

Agribusiness

Status

Proposed

Disclosed date

09/24/2021

Projected date at which a project will be put forward for the Board of Executive Directors’ approval.

Projected board date
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10/29/2021

Approval date

N/A

Signed date

N/A

Sponsoring entity

N/A

Team leader

Navarrete, Monica

Investment type

Financing requested

USD $ 20,000,000

Syndicated amount

N/A

Financing amount

N/A

Currency

USD

Project scope and objective

The proposed financing to Belize Sugar Industries ("BSI" or the "Company") consists of a long-term senior loan and a revolving line of credit (the “Loan”). BSI will use the funds of IDB Invest to partially finance: (i) fixed investments to (a) reduce logistics times and costs for the export of raw sugar, molasses, and (b) increase the production value added direct consumption sugar; and (ii) working capital needs, including payments to sugar cane suppliers. The main development objectives of the Loan include: (i) improving the Company's productivity through logistical efficiencies, (ii) supporting the growth of the value of exports, and (iii) strengthening the value chain, supporting small farmers in northern Belize, where there is a high incidence of poverty.

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Environmental and social review

IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. Any gaps with respect to the IDB Invest Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) provided below.

BSI-ASR II - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS) SEP,2021

337.9 Kb

BSI-ASR II - ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP) SEP,2021

122.9 Kb

For inquiries, comments and information requests about the project

Request information

Learn more about how we provide private-sector solutions in the region.

Contact information

For inquiries, comments and information requests about the project

Request information

Alternatively, you may also use the following contact information:

Client Contact

CONTACT NAME

Mr. William Neal

POSITION

Affairs and Communications Officer

PHONE NUMBER

+501 322-2150

EMAIL

William.Neal@asr-group.com

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

COUNTRY OFFICES

IDB Invest Country Offices