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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
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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
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10/26/2021

Approval date

10/26/2021

Signed date

11/16/2021

Sponsoring entity

N/A

Investment Operations Department Contact

N/A

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

 

 

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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.

GRUPO PINERO - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)

583.7 Kb

GRUPO PINERO - ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)

542.7 Kb

For inquiries, comments and information requests about the project

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Contact information

For inquiries, comments and information requests about the project

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Alternatively, you may also use the following contact information :

Client Contact

EMAIL

N/A

PHONE NUMBER

N/A

POST OFFICE ADDRESS

N/A

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

Request information

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