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Company name

Redstart Investments Guyana Inc.

Project number

14585-01

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
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B

Country

Guyana

Sector

Manufacturing

Status

Approved

Disclosed date

11/13/2023

Projected date at which a project will be put forward for the Board of Executive Directors’ approval.

Projected board date
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12/12/2023

Approval date

12/14/2023

Signed date

N/A

Sponsoring entity

N/A

Investment Operations Department Contact

N/A

Investment type

Syndicated amount

N/A

Financing amount

USD $ 45,000,000

Currency

USD

Project scope and objective

The IDB Invest’s financing of up to US$45 million with a 12 year-tenor to Redstart Investment Guyana Inc. (Redstart Guyana) seeks to support the construction of a distribution center and a commercial complex in Guyana. Redstart Guyana, a real estate developer under common control (ultimate shareholders) as Grupo Unicomer, was incorporated in Guyana in 1991 and specializes in developing and operating various real estate assets, including offices, distribution centers, stores, and services center for the local branch of Unicomer Group and third-party clients.

The expected development impacts of IDB Invest’s financing include: (i) foster growth and job creation; (ii) enhance efficiency; (iii) contribute to domestic supply chain growth; and (iv) increase MSMEs access to economic activity.

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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.

REDSTART GUYANA - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)

358.4 Kb

REDSTART GUYANA - ENVIRONMENTAL AND SOCIAL PLAN (ESAP)

133.1 Kb

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Contact information

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Alternatively, you may also use the following contact information :

Client Contact

EMAIL

richard_luck@unicomer.com

PHONE NUMBER

(876) 926 2110

POST OFFICE ADDRESS

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

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