Company name
Massy Holding Ltd. and Massy Integrated Retail Ltd.
Project number
15059-01
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
Regional
Sector
Manufacturing
Status
Proposed
Disclosed date
11/11/2024
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
12/13/2024
Approval date
N/A
Signed date
N/A
Sponsoring entity
N/A
Investment Operations Department Contact
Corporates Division
Investment type
Syndicated amount
N/A
Financing amount
USD $ 150,000,000
Currency
USD
Project scope and objective
Massy Holding Ltd. (“Massy”) and Massy Integrated Retail Ltd. (“MIRL”), companies incorporated in Trinidad and Tobago, are seeking financing of up to US$150 million to support: (i) a US$90 million capex investment program in their operating subsidiaries in Trinidad and Tobago and Barbados (Term Loan); and (ii) US$60 million in working capital needs (US$35 million committed), (Trade Finance Facility). IDB Invest financing will include advisory services related to sustainability aspects (e.g. climate, digital transformation, and food security).
Massy Holdings Limited engages in trading, manufacturing, finance, and service industries throughout the Caribbean Region and South America. Massy operates through the following segments: Integrated Retail, Energy/Gas Products, Motors and Machines, and Financial Services.
MIRL, a wholly-owned subsidiary of Massy, oversees an integrated retail and distribution business, including the retailing of merchandise through a chain of supermarkets and the wholesale distribution of agency products. The entity is also an investment holding entity with subsidiaries whose principal activities are the retailing of merchandise through a chain of supermarkets, wholesale distribution, and the administration of a loyalty program.
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Contact information
For inquiries, comments and information requests about the project
Request informationAlternatively, you may also use the following contact information :
Client Contact
susan.hamel-smith@massygroup.com
PHONE NUMBER
1 868 680 6368
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(202) 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.
MASSY GROUP - ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)
174.1 Kb
MASSY GROUP - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)
276.5 Kb