Demerara Distillers Limited (IDBI-12754-01)

Countries
  • Guyana
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
Proposed
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Dec 16, 2020
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Demerara Distillers Limted
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
  • Energy
  • Industry and Trade
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, etc.
Investment Amount (USD)
$ 21.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IDBI website

Updated in EWS Nov 16, 2020

Disclosed by Bank Nov 13, 2020


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Project Description

The proposed financing to Demerara Distillers Limited (“DDL” or the “Company”), a publicly held company and one of the main economic groups in Guyana, will be used to finance the expansion of its juice production plant, a solar photovoltaic generation system (including batteries) for self-consumption, and its working capital needs. The transaction will be structured as follows: (i) a US$10 million Senior Long-term Loan funded by IDB Invest (the “IDB Invest-LT Loan”), (ii) a US$5 million Senior Committed Short-term Revolving Credit line funded by IDB Invest; and (iii) a US$6 million Senior Concessional Loan to be financed by the CTF Innovative Instruments for Investment in Zero-Carbon Technologies (i3-0) that is administered by the IDB and IDB Invest acts as its agent (the “Loan”). The Loan will support the Company to increase food production for the domestic market, its efficiency and climate change mitigation through reduced GHG emissions, while strengthening local market linkages.

Investment Description
Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Demerara Distillers Limited Contractor Industry and Trade

Contact Information

For project inquiries, please contact Demerara Distrillers Limited:

Name:                                      Vasudeo Singh      

Title:                                         CFO           

E-mail address:                       vsingh@demrum.com

For inquiries and comments for IDB Invest, please contact:

Name:                                      IDB Invest Communications Group

E-mail address:                       requestinformation@idbinvest.org

In addition, affected communities have access to the BID Invest Independent Consultation and Investigation Mechanism via:

Telephone number:               +1 (202) 623-3952

Fax number:                            +1 (202) 312-4057

Address:                                  1300 New York Ave. NW Washington, DC. USA. 20577

E-mail address:                       mecanismo@iadb.org or MICI@iadb.org