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Company name

Fernandes Guyana Enterprise INC

Project number

14103-01

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

Regional

Sector

Agribusiness

Status

In implementation

Disclosed date

09/23/2022

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

Projected board date
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11/29/2022

Approval date

11/29/2022

Signed date

02/02/2023

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

The proposed financing to Fernandes Guyana Enterprise (“Fernandes Guyana”, the “Borrower” or the “Company”) consists of an 8-year Senior Loan of up to US$5 million, including a grace period of 1 year (the “Financing” or the “Loan”). The Company will use the Financing to fund capital expenditures and for working capital needs. The main development objectives of the Loan include: (i) promoting the Company’s growth in Guyana, increasing the supply of national products while reducing imports of finished goods; (ii) promoting the productivity of the Company; (iii) promoting employment in Guyana through the expansion of the operations of the Company; (iv) diversifying the products and services provided by the Company in the Guyanese market; and (v) increasing and enhancing the Company’s market linkages.

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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.

FERNANDES GUYANA II - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)

225.3 Kb

FERNANDES GUYANA II - ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)

184.3 Kb

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Contact information

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Alternatively, you may also use the following contact information :

Client Contact

EMAIL

Frank.Jansen@Fernandes.sr

PHONE NUMBER

(+597) 427339 / (+597) 411998

POST OFFICE ADDRESS

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

For inquiries, comments and information requests about the project

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