Barbados Port Inc. (IDBI-12683-01)

Countries
  • Barbados
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • IDB Invest (IDBI)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Dec 18, 2020
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Barbados Port Inc.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Climate and Environment
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 30.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Loan Amount (USD)
$ 25.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IDBI website

Updated in EWS Jun 19, 2021

Disclosed by Bank Oct 29, 2020

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

The Port of Bridgetown Barbados (“BPI”, the “Port” or the “Company”) is a combined facility which operates two functions through one port of entry: cruise tourism and cargo operations. BPI, a state-owned entity, is planning to build a waste-to-energy (“WTE”) system consisting of an incinerator and an organic or Steam Rankine Cycle turbine to manage waste produced from cruise ships and port operations and to produce energy through the conversion of thermal to electrical energy. The Company is also planning to install an additional 500 kW of rooftop solar photovoltaic (“PV”) system to double the generation capacity of its existing 500 kW system. These proposed activities are all known as the “Project”.

The scope of IDB Invest’s environmental and social (“E&S”) review included online meetings and phone calls with: i) BPI’s team (BPI’s management and technical specialists); ii) a service provider (garbage disposal company); and iii) Hatch Ltd. (“Hatch”), a third-party technical engineering firm hired by IDB Invest to support BPI in identifying feasible WTE technologies.1 The review focused on: i) BPI’s corporate, environmental, social, and occupational health and safety management procedures and policies; and ii) a feasibility study for WTE and solar PV facilities developed by Hatch.

The environmental and social due diligence ("ESDD") process took place in July 2020 and was conducted in a virtual form due to the COVID-19 pandemic’s traveling restrictions.

People Affected By This Project
People Affected By This Project refers to the communities of people likely to be affected positively or negatively by a project.

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Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Barbados Port Inc. Investor -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

For Project inquiries please contact the Client:

Barbados Port Inc.
Name: Karen Forde
Title: Chief Financial Officer & Corporate Secretary
Phone: (246) 434-6100
Email:
kforde@barbadosport.com

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://www.iadb.org/en/access-information/information-request

ACCOUNTABILITY MECHANISM OF IDB / IDB INVEST

The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IDB Invest)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IDB Invest is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).

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How it works