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
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
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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Contact information
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Client Contact
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
requestinformation@idbinvest.org
PHONE
+1(202)-566-4566
ADDRESS
1350 New York Ave NW, Washington, DC 20005
COUNTRY OFFICES
IDB Invest Country OfficesIndividuals or communities can submit complaints and concerns related to environmental, social, or corporate governance issues to the Management Grievance Mechanism by e-mailing mgm@iadb.org or by calling +1 202 312 4040.
As a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism by writing to mecanismo@iadb.org or MICI@iadb.org or calling +1(202) 623-3952.
IDB Invest has zero tolerance to reprisal or retaliation against anybody who voices its opinion or opposition to IDB Invest-financed projects.
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
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