Early Warning System

Countries

Suriname

Geographic location where the impacts of the investment may be experienced.

Specific Location

Nickerie, Coronie, Paramaribo

Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.

Financial Institutions

Caribbean Development Bank (CDB)

International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.

Project Status

Active

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

Dec 1, 2016

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

Government of Suriname

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.

Loan Amount (USD)

$ 65.00 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)

$ 98.33 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 @ CDB website

Updated in EWS Jun 22, 2023

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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 CDB, the project will improve the reliability, capability and operational flexibility of Energie Bedrijven Suriname’s sub-transmission and distribution network on the Energie Voorziening Paramaribo and the Energie Voorziening Nickerie power systems, in the delivery of quality power supply to customers in an efficient manner. Additionally, the project will result in the utilisation by Energie Bedrijven Suriname of self-owned renewable plants for electricity production.

Investment Description

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

Caribbean Development Bank (CDB)

The executing company, namely N.V. Energie Bedrijven Suriname will contribute to the project with USD 16.532 million, and the Government of Suriname with USD 16.793 million.

Private Actors Description

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.

As stated by BNAmericas, N.V. Energie Bedrijven Suriname is a public utility company responsible for the generation, transmission and distribution of electricity for over 500,000 citizens of the country of Suriname.

According to Bloomberg, Transrail Lighting Limited operates as a power distribution and transmission company. The Company designs, manufactures, tests, and installs towers, conductors, steel and street light poles, street lights, luminaries, refineries, and solar structures. Transrail Lighting serves customers in India.

Universal Cables Limited manufactures wire and cable products. The Company offers power, AAC and ACSR, CATV, LAN telephone switching, and aerial bunched cables, as well as aluminum rods, capacitors, cross linked polyethylene compound, semi-conducting, and other grades of wires. Universal Cables serves customers worldwide.

Private Actor 1	Private Actor 1 Role	Private Actor 1 Sector	Relation	Private Actor 2	Private Actor 2 Role	Private Actor 2 Sector
-	-	-	-	N.V. Energie Bedrijven Suriname	Contractor	Energy
-	-	-	-	Transrail Lighting Ltd.	Contractor	Energy
-	-	-	-	Universal Cables Ltd. - UNISTAR	Contractor	Communications

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.

CDB Team Leaders:

Mr. Daniel Best - Director, Projects Department
Email: bestd@caribank.org
Phone: +246 431-1710

Ms. Merlyn P. Combie - Division Chief (Ag.), Economic Infrastructure Division
Email: combiem@caribank.org
Phone: +246 431-1659

Executing Agency - N.V. Energie Bedrijven Suriname:

Address: Noorderkerkstraat 2-14, Paramaribo
Email: customerservices@ebs.sr
Website: https://nvebs.com/

Contractors -

Transrail Lighting Limited:

Address: Fortune 2000, A-wing, 5th Floor, Bandra Kurla Complex, Mumbai- 400051, India
Phone: +91-22 - 61979600 / +91-22 - 61979600
Email: corporate@transraillighting.com
Website: https://transrail.in/

Universal Cables Ltd. (UNISTAR):

Addresses -
Madhya Pradesh: Birla Vikas, Satna (M.P.) 485 005
Delhi: 2nd Floor, Wing-B, Commercial Plaza, Radisson Hotel, NH-8, Mahipalpur New Delhi-110037
Phones -
Madhya Pradesh: +91-7672-257121, 127 / 414000
Delhi: +91 11 45538800
Fax: +91-7672-257131 (MP) / +91 11 26779031 (Delhi)
Email: headoffice@unistar.co.in / sales@unistar.co.in / delhi@unistar.co.in
Website: https://www.unistar.co.in/

ACCOUNTABILITY MECHANISM OF THE CDB

Complaints about suspected fraud and/or corruption may be submitted to the Office of Integrity, Compliance and Accountability. Allegations may be made by a variety of sources including staff, consultants, contractors, and other persons who may consider themselves participants in, witness to or victims of wrongdoing.

To make a complaint, access the following webpage: https://secure.ethicspoint.com/domain/media/en/gui/55678/index.html.