Company name
Caribbean Green Building Inc
Project number
14086-01
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
B
Country
Guyana
Sector
Tourism
Status
In implementation
Disclosed date
07/14/2022
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
08/11/2023
Approval date
08/11/2023
Signed date
02/23/2024
Sponsoring entity
Tama Investments LLC
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 11,000,000
Financing amount
USD $ 18,000,000
Currency
USD
Project scope and objective
Four Points Georgetown (“the Project) is the development, construction and operation of a 172 room Four Points by Sheraton hotel in Georgetown, Guyana. The Project will feature a restaurant, two bars, an outdoor pool, as well as 16,000-square feet of meeting space and 25,000-square feet of retail area. The site is strategically located in downtown Georgetown, 15 minutes from the Ogle International Airport on the eastside lane of a new road bypass between Eccles and Mandela Avenue. The hotel’s operator will be EuroBuilding Hotel Group, an established hotel operator with several properties around the region. Four Points represents an upper-midscale brand within the Marriott International umbrella and will seek EDGE Certification highlighting many sustainability features. The Project is led by Tama Investments LLC and has an estimated total project cost of approximately US$33.3 million which will be financed by 50% Debt/ Equity, including an approximate US$12 million senior loan with a 12 year tenor from IDB Invest.
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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.
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
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.
FOUR POINTS - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)
245.8 Kb
FOUR POINTS - ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)
112.6 Kb