Company name
Caribe Hospitality S.A. (“CHSA”)
Project number
13120-01
Category C projects are those that are likely to result in very limited or no adverse environmental or social impacts or risks.
E&S category
C
Country
Regional
Sector
Tourism
Status
Inactive
Disclosed date
04/30/2020
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
10/15/2021
Approval date
N/A
Signed date
N/A
Sponsoring entity
N/A
Investment Operations Department Contact
Portfolio Management Division
Investment type
Syndicated amount
N/A
Financing amount
USD $ 5,000,000
Currency
USD
Project scope and objective
Due to the impact of the COVID-19 pandemic, Caribe Hospitality S.A. (hereinafter "CHSA" or "the Company") requires a loan from IDB Invest to finance its portfolio companies’ working capital requirements (hereinafter the "Project" or the "Facilities"). The proposed loan will be for a maximum of USD 5.0 million and will be structured as a senior secured loan with a five-year term.
CHSA is an experienced property developer with a solid track record in the region. Since 2000, it has developed thirteen Marriott-branded and Marriott-operated properties in Costa Rica, Dominican Republic, Barbados, Trinidad and Tobago, El Salvador, Mexico, Jamaica, and Puerto Rico. The Company has already received three loans from IDB Invest. The loans for Courtyard Alajuela and Courtyard Kingston have already been repaid and the loan for Fairfield Alajuela is being disbursed.
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Client files
This section provides the key environmental and social assessment documents produced by the client for this project.
CARIBE HOSPITALITY WC FACILITY -ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP) - APRIL 30 2020 0.PDF
135.6 Kb
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Contact information
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Client Contact
N/A
PHONE NUMBER
N/A
POST OFFICE ADDRESS
N/A
IDB Invest Contact
requestinformation@idbinvest.org
PHONE
+1(202)-566-4566
ADDRESS
1350 New York Ave NW, Washington, DC 20005
COUNTRY OFFICES
IDB Invest Country OfficesIndividuals or communities can submit complaints and concerns related to environmental, social, or corporate governance issues to the Management Grievance Mechanism by e-mailing mgm@iadb.org or by calling +1 202 312 4040.
As a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism by writing to mecanismo@iadb.org or MICI@iadb.org or calling +1(292) 623-3952.
IDB Invest has zero tolerance to reprisal or retaliation against anybody who voices its opinion or opposition to IDB Invest-financed projects.
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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. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.
ENVIRONMENTAL AND SOCIAL REVIEW
50.3 Kb