Derrimon Trading Co. Ltd., Marnock LLC and Marnock Retail LLC
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.
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
USD $ 13,000,000
Project scope and objective
The proposed US$13 million financing to the Borrowers, consists of: Tranche I (committed): (i) up to US$3 million to support CAPEX investments including the modernization of Derrimon’s distribution center and the implementation of solar panels, and (ii) up to US$5 million of a revolving credit line (390- day tenor) to support Derrimon’s import of goods; Tranche II (uncommitted): facility up to US$5 million for future CAPEX investments.
The main impacts of the financing include: (i) reduction of carbon emissions, related the implementation of solar panels, (ii) increasing productivity and competitiveness, (iii) inducing growth and job creation, and (iv) nearshoring and strengthening of regional supply chain (Caribbean region).
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