Company name
Grand Bahama Utility Company Limited
Project number
12189-01
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
Bahamas
Sector
Water and Sanitation
Status
Hold
Disclosed date
11/20/2017
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
12/21/2017
Approval date
12/21/2017
Signed date
N/A
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
N/A
Financing amount
USD $ 4,500,000
Currency
USD
Project scope and objective
The transaction consists of the financing of a US$4,500,000 senior unsecured loan to Grand Bahama Utility Company Limited (“GBUC”). The proceeds of the financing will be used for the purchase and installation of approximately 11,000 smart water meters. GBUC, the distributor of water in Grand Bahamas and operator of a wastewater facility in the Chesapeake area respectively, is seeking to reduce Non-Revenue Water (“NRW”) through the incorporation of smart meters, which is new technology in The Bahamas. The project is expected to be beneficial to GBUC and its customers, provided that once the smart meters are in operation, the company will be able to increase its effectiveness in controlling NRW and thus reduce costs for water distribution.
The financing consists of a US$4,500,000 senior unsecured loan to GBUC. GBUC is planning to install approximately 11,000 smart water meters which most of them will be purchased by using the proceeds from IDB Invest financing.
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Client files
This section provides the key environmental and social assessment documents produced by the client for this project.
ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS) - GBUC SMART WATER METER
283.3 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.
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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.
ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY
34.7 Kb