Company name
Plastech Solutions S.A., and Les Enterprises Haiti Solutions S.A.
Project number
14064-01
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
Haiti
Sector
Manufacturing
Status
In implementation
Disclosed date
05/09/2022
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
07/08/2022
Approval date
07/08/2022
Signed date
08/03/2022
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
N/A
Financing amount
USD $ 9,000,000
Currency
USD
Project scope and objective
The financing seeks to support the growth and competitiveness of Les Entreprises Plastech Haiti S.A. and Plastech Solutions S.A. (the “Companies”, “Plastech” or the “Borrowers”), a leading company in the plastic industry in Haiti. Plastech has embarked on a multiyear (2022-2023) US$17.2 million investment plan to increase capacity and to optimize production efficiencies while expanding its regional presence. The investment plan includes the purchase industrial machinery and equipment with more efficient technology (less use of raw material) to serve its increasing demand from main clients in Haiti and exports to some countries in the Caribbean region. The IDB Invest will provide an A Loan of up to US$9 million to be complemented by internal cash flow and additional debt. IDB Invest financing will have a 10-year tenor including 12 months of grace period.
ADDENDUM: May 25, 2022 - A change was made in the Project Scope and Objective, please read correctly as follows:
The financing seeks to support the growth and competitiveness of Les Entreprises Plastech Haiti S.A. and Plastech Solutions S.A. (the “Companies”, “Plastech” or the “Borrowers”), a leading company in the plastic industry in Haiti. Plastech has embarked on a US$13.6 million investment plan to increase capacity and to optimize production efficiencies while expanding its regional presence. The investment plan includes the purchase industrial machinery and equipment with more efficient technology (less use of raw material) to serve its increasing demand from main clients in Haiti and exports to some countries in the Caribbean region. The IDB Invest will provide an A Loan of up to US$9 million to be complemented by internal cash flow and additional debt. IDB Invest financing will have a 10-year tenor including 12 months of grace period.
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
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.
PLASTECH III - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS) AND ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)
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