Company name
Grupo Piñero
Project number
13659-01
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
In implementation
Disclosed date
09/21/2021
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
10/26/2021
Approval date
10/26/2021
Signed date
11/16/2021
Sponsoring entity
N/A
Investment Operations Department Contact
Portfolio Management Division
Investment type
Syndicated amount
N/A
Financing amount
USD $ 120,000,000
Currency
USD
Project scope and objective
This transaction consists of a senior loan of up to US$120 million to finance Piñero Group's working capital needs in the Dominican Republic and Jamaica that were impacted by the COVID-19 pandemic.
Piñero Group is a Spanish hotel group that operates 27 hotels in the Dominican Republic, Jamaica, Mexico, and Spain.
The impact story of this project was highlighted on our 2021 Annual Report.
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
Contact information
For inquiries, comments and information requests about the project
Request informationAlternatively, you may also use the following contact information :
Client Contact
jmmayans@grupo-pinero.com
PHONE NUMBER
+34 971 787 000 Ext: 7281
POST OFFICE ADDRESS
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.
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.
GRUPO PINERO - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)
583.7 Kb
GRUPO PINERO - ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)
542.7 Kb