CBC Haiti Climate (IFC-49332)

Regions
  • Latin America and Caribbean
Geographic location where the impacts of the investment may be experienced.
Countries
  • Haiti
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
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
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."
Borrower
CARIBBEAN BOTTLING COMPANY S.A.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 4.50 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.
Primary Source

Original disclosure @ IFC website

Updated in EWS Nov 22, 2024

Disclosed by Bank Nov 13, 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 IFC, the bank is considering a senior secured loan of up to US$4.5 million to CBC, to be provided in local currency (HTG), to finance the acquisition and installation of rooftop solar panels with a battery storage system and a backup diesel generator to reduce the company's GHG carbon footprint (the “Project”). The proceeds will entail up to 2MWp solar panels to be installed on the roof of the CBC facility in Haiti and up to 5 MWh of storage battery system. The CBC facility is located on a 5-hectare site in a mixed-used zone in Croix-des-Bouquets, approximately 15 km north of downtown Port-au-Prince. There are five buildings on the site occupying approximately 60% of the available space containing four bottling lines, a cleaning station of 5-gallon jugs for reuse, jug and PET bottle blowing, raw material and finished product storage areas, a quality control laboratory, a cafeteria with shaded seating area, and administrative offices. Additional on-site operations include groundwater extraction through two wells, water treatment, truck loading and unloading areas. IFC first invested in CBC in 2019 (ref. to #40610 in the IFC Disclosure Portal) to support the company’s expansion of its manufacturing facility. CBC’s E&S performance, based on IFC supervision, has been satisfactory.                                                   

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

According to the IFC, Caribbean Bottling Company (“CBC” or the “Company”) is an existing IFC client (#40610) based in Haiti. The company bottles water and juices. Founded in 1973, CBC is engaged in manufacturing and distributing: (i) water and related products (44% of revenues), and (ii) flavored beverages, which includes juice under the proprietary brand “Frooty”, iced tea under the proprietary brand “Brizz”, and isotonic under the proprietary brand “Active” (53% of revenues). It plans to shift towards the use of renewable energy, moving away from fossil fuels.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Culligan (Caribbean Bottling Company 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.

Contact Person: Gaetan Barrau

Company Name:  Caribbean Bottling Company S.A.

Address:  Angle Rue Culligan & Santo 17, Croix des Bouquets, Haiti

Email:  gbarrau@cbc.ht

Phone: (509) 3701-1704

 

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

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How it works