Early Warning System

Countries

Haiti

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

Proposed

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

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

Nov 27, 2024

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

ABD SMART METER S.A.

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

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)

$ 4.00 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)

$ 4.00 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.

Project Cost (USD)

$ 15.00 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 Oct 22, 2024

Disclosed by Bank Oct 10, 2024

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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.

According to the IDB Invest, the objective of the Haiti Smart Meter Project (the "Project") is to install and operate an electricity smart meter system including up to 100,000 smart meters, its associated facilities, and a pre-paid collection system. The Project focuses on areas in Port-au-Prince and is expected to improve the financial position of Electricite d'Haiti, the government-owned electric utility, by reducing commercial and technical losses. With an estimated Project cost of US$15 million, the financing will consist of an A Loan to be funded by IDB Invest of up to US$4 million and a Blended Finance Subordinated Loan of up to US$8 million to be funded by a Blended Fund managed by IDB Invest which is subject to the availability of Blended Finance funds at the time of request of the funds.

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French (Francais): L'objectif du Projet Haiti Smart Meter Project (le "Projet") est d'installer et d'exploiter un systeme de compteurs intelligents d'electricite comprenant jusqu'a 100 000 compteurs intelligents, ses installations associees et un systeme de collecte prepaye. Le Projet se concentre sur les zones de Port-au-Prince et devrait ameliorer la situation financiere d'Electricite d'Haiti, la compagnie electrique publique, en reduisant les pertes commerciales et techniques. Avec un cout estime du Projet de 15 millions de dollars americains, le financement consistera en un Pret

A finance par BID Invest jusqu'a 4 millions de dollars americains et un Pret Subordonne de Financement Mixte jusqu'a 8 millions de dollars americains finance par un Fonds Mixte gere par BID Invest, sous reserve de la disponibilite des fonds de Financement Mixte au moment de la demande des fonds.

Early Warning System Project Analysis

For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

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.

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

IDB Invest (IDBI)

According to the IDB Invest, the estimated Project cost of US$15 million, the financing will consist of an A Loan to be funded by IDB Invest of up to US$4 million and a Blended Finance Subordinated Loan of up to US$8 million to be funded by a Blended Fund managed by IDB Invest which is subject to the availability of Blended Finance funds at the time of request of the funds.

Private Actor Relationship

A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Private Actors Description

Private Actor 1	Private Actor 1 Role	Private Actor 1 Sector	Relation	Private Actor 2	Private Actor 2 Role	Private Actor 2 Sector
-	-	-	-	ABD SMART METER S.A.	Client	-

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.

Client Contact

EMAIL

info@atlanticbridged.com

PHONE NUMBER

+1 6478724838 Ext. 104

POST OFFICE ADDRESS

920 Alness St, Suite 207, Toronto, ON,CANADA, M3J 2H7

EMAIL: requestinformation@idbinvest.org

PHONE: +1(202)-566-4566

ADDRESS: 1350 New York Ave NW, Washington, DC 20005

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).