Company name

Inversiones Costa Elocuente S.A.S, subsidiary of Grupo Cisneros

Project number

13807-01

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

Dominican Republic

Sector

Tourism

Status

Proposed

Disclosed date

03/11/2022

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

Projected board date
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08/04/2022

Approval date

08/02/2022

Signed date

N/A

Sponsoring entity

N/A

Team leader

Wright, Stefan C.M.

Investment type

Syndicated amount

USD $ 106,400,000

Financing amount

USD $ 40,000,000

Currency

USD

Project scope and objective

This transaction consists of a loan of up to US$146.4 million to finance the development and operations of a 95 room Four Seasons Hotel with 24 residential unit sustainable tourism resort. 

 

Grupo Cisneros is a privately held business conglomerate with over 90 years of global experience that is primarily focused on: media, digital/advertising, real estate, social leadership and new technologies.

 

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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.

TROPICALIA II - ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)

532.5 Kb

TROPICALIA II - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)

819.2 Kb

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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

CONTACT NAME

Patrick Freeman

POSITION

President, Inversiones Inmobiliarias

PHONE NUMBER

+1 305 422 3426

EMAIL

pfreeman@cisneros.com

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

COUNTRY OFFICES

IDB Invest Country Offices