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
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C

Country

Regional

Sector

Tourism

Status

Hold

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
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10/15/2021

Approval date

N/A

Signed date

N/A

Sponsoring entity

N/A

Team leader

Wright, Stefan C.M.

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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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

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

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Contact information

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Client Contact

CONTACT NAME

N/A

POSITION

N/A

PHONE NUMBER

N/A

EMAIL

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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