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Company name

Seawind Key Investment Limited (“Seawind”)

Project number

JA3388A-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

Jamaica

Sector

Tourism

Status

Completed

Disclosed date

06/01/2012

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

Projected board date
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07/03/2012

Approval date

09/05/2012

Signed date

09/10/2012

Sponsoring entity

N/A

Investment Operations Department Contact

N/A

Investment type

Syndicated amount

USD $ 84,000,000

Financing amount

USD $ 8,000,000

Currency

USD

Project scope and objective

Seawind is the owner of the Secrets St. James and Secrets Wild Orchid hotels, two adjacent buildings offering different tourism concepts with 350 rooms each, and located on one of the best beaches in Montego Bay, Jamaica. The total investment cost of the project is US$184 million. The hotel is in its second year of operations. Its success will promote future growth, investment, and development of the tourism sector in Jamaica. Seawind’s shareholders include successful and experienced Spanish and Latin American investors and the hotels are operated by AMResorts. This is each group’s first investment in Jamaican tourism.

The proposed IIC loan will complete Seawind’s financing plan, diversify its funding and provide an adequate, long-term capital structure.

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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.

ENVIRONMENTAL AND SOCIAL REVIEW

35.5 Kb

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Contact information

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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

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