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Company name

Belize Electricity Limited

Project number

15004-01

Category B projects have potential environmental and/or social impacts and risks that are less adverse than those of a Category A and which are generally limited to the project site, largely reversible and can be mitigated via measures that are readily available and feasible to implement in the context of the operation.

E&S category
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B

Country

Belize

Sector

Energy

Status

Proposed

Disclosed date

11/07/2024

Projected date at which a project will be put forward for the Board of Executive Directors’ approval.

Projected board date
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12/10/2024

Approval date

12/10/2024

Signed date

N/A

Sponsoring entity

N/A

Investment Operations Department Contact

Infrastructure and Energy Division

Investment type

Syndicated amount

N/A

Financing amount

USD $ 30,000,000

Currency

USD

Project scope and objective

The proposed transaction consists of a corporate loan to the Borrower for up to US$30.0 million to (i) support its working capital requirements and finance its (i) working capital requirements and (ii) 2024/2026 capital expenditures program consisting, among others, of (a) the implementation of smart grid solutions and modernization of its information technology infrastructure, (b) financing of new electric vehicles; (c) network enhancements; and (d) new and replacement of LED street lighting (the “Project”). The Financing will be structured in two phases: (a) phase 1 will consist of a committed tranche for up to US$15 million (“Phase 1” or the “Committed Facility”) comprised of (a) a revolving working capital tranche for up to US$5 million with a maturity period of 2 years and an availability period of 7 years and (b) a 7-year amortizing loan, including a 24-month grace period, for up to US$10 million; and (ii) phase 2 will consist of an uncommitted tranche for additional US$15 million  (“Phase 2” or the ”Uncommitted Facility”) replicating the same terms and conditions as Phase 1. 

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Environmental and social review

IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.

BELIZE ELECTRICITY ENIVRONMENTAL AND SOCIAL REVIEW SUMMARY 2024-11-06

256.0 Kb

BELIZE ELECTRICITY ENVIRONMENTAL AND SOCIAL ACTION PLAN 2024-11-06

133.1 Kb

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Contact information

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Alternatively, you may also use the following contact information :

Client Contact

EMAIL

sean.fuller@bel.com.bz

PHONE NUMBER

501-227-0954

POST OFFICE ADDRESS

21/2 miles Phillip Goldson Highway, Belize City Belize

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

For inquiries, comments and information requests about the project

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Learn more about how we provide private-sector solutions in the region .