Etoile du Nord S.A. (EDN) (IIC-HA2800A-01)

Countries
  • Haiti
Geographic location where the impacts of the investment may be experienced.
Specific Location
Port-au-Prince
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
  • IDB Invest (IDBI)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
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
May 9, 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
Etoile du Nord S.A. (EDN)
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Agriculture and Forestry
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)
$ 0.45 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)
$ 0.45 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 @ IIC website

Updated in EWS Aug 7, 2017

Disclosed by Bank Apr 8, 2016


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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.
From the IIC: The project consists of a US$450,000 loan for the construction of a new sorghum processing facility in Port-au-Prince Haiti. The objective of the project is to assist in the development of the sorghum industry in Haiti, which will make processed sorghum available for industrial clients, while at the same time, supporting small sorghum farmers to create a sustainable livelihood. EDN was formed in 2006 but remained dormant for 9 years before it was re-established by Ken Michel, an entrepreneur and Brasserie National d'Haiti, a local brewery, 100% owned by Heineken, in 2015. EDN purchases sorghum from local Haitian farmers, process it and sells it to three main customers; (i) BRANA, as a substitute for imported barley in the production of beer and malta; (ii) Food for the Poor (Haiti), as a substitute for imported rice in its feeding programs; and (iii) Epi d'Or, a large local bakery, as sorghum flour, which is a substitute for imported wheat flour in making bread. The project is a warehousing facility for the storage, drying, enhancement and milling of sorghum grain. The facility consists of two 48 ft. diameter storage silos, four silos that are seven ft., a drying facility, finished product storage facility and a two floor office building. The facility is located on a small parcel of land (1,800 square meters) zoned for industrial use adjacent to the Port au Prince Airport. EDN has a ten (10) year lease on the site, which was previously used also for warehousing of food commodities. EDN purchases bagged sorghum from a network of roughly 1,500 small-scale producers, and has the sorghum trucked to its facilities by third party contractors. This is a category B project according to the IIC’s Environmental and Social Sustainability Policy. There are a small number of limited and specific environmental and social impacts, which may result and that can be avoided or mitigated by adhering to generally recognized management practices. The primary issues relate to the development of guidance material on environmental, health and safety, and standard operating procedures for the facility.
Investment Description
Here you can find a list of individual development financial institutions that finance the project.
The IIC is loaning US$450,000 to Etoile du Nord S.A..

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.
ACCOUNTABILITY MECHANISM OF IIC 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 (IIC)-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 IIC 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