Skip to main content

Company name

Derrimon Trading Co. Ltd., Marnock LLC and Marnock Retail LLC

Project number

14556-01

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
tooltip

B

Country

Jamaica

Sector

Manufacturing

Status

In implementation

Disclosed date

11/02/2023

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

Projected board date
tooltip

12/08/2023

Approval date

12/08/2023

Signed date

12/22/2023

Sponsoring entity

N/A

Investment Operations Department Contact

N/A

Investment type

Syndicated amount

N/A

Financing amount

USD $ 13,000,000

Currency

USD

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).

For inquiries, comments and information requests about the project

Request information

Learn 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.

DERRIMON TRADING - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS) OCT

245.8 Kb

DERRIMON TRADING - ENVIRONMENTAL AND SOCIAL PLAN (ESAP) OCT

184.3 Kb

For inquiries, comments and information requests about the project

Request information

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

Contact information

For inquiries, comments and information requests about the project

Request information

Alternatively, you may also use the following contact information :

Client Contact

EMAIL

ian.kelly@derrimon.com

PHONE NUMBER

+1 876 901 3344

POST OFFICE ADDRESS

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

Request information

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