Company name

Caribbean Green Building Inc

Project number

14086-01

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

Guyana

Sector

Tourism

Status

Proposed

Disclosed date

07/14/2022

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

Projected board date
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10/26/2022

Approval date

N/A

Signed date

N/A

Sponsoring entity

Tama Investments LLC

Team leader

Wright, Stefan C.M.

Investment type

Syndicated amount

USD $ 4,700,000

Financing amount

USD $ 12,000,000

Currency

USD

Project scope and objective

Four Points Georgetown (“the Project) is the development, construction and operation of a 172 room Four Points by Sheraton hotel in Georgetown, Guyana. The Project will feature a restaurant, two bars, an outdoor pool, as well as 16,000-square feet of meeting space and 25,000-square feet of retail area. The site is strategically located in downtown Georgetown, 15 minutes from the Ogle International Airport on the eastside lane of a new road bypass between Eccles and Mandela Avenue. The hotel’s operator will be EuroBuilding Hotel Group, an established hotel operator with several properties around the region. Four Points represents an upper-midscale brand within the Marriott International umbrella and will seek EDGE Certification highlighting many sustainability features. The Project is led by Tama Investments LLC and has an estimated total project cost of approximately US$33.3 million which will be financed by 50% Debt/ Equity, including an approximate US$12 million senior loan with a 12 year tenor from IDB Invest.

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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.

FOUR POINTS - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)

245.8 Kb

FOUR POINTS - ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)

112.6 Kb

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Contact information

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Alternatively, you may also use the following contact information:

Client Contact

CONTACT NAME

Mauricio Van Dam

POSITION

Director

PHONE NUMBER

(592) 688-8016

EMAIL

mvd@cgreenbuilding.com

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

COUNTRY OFFICES

IDB Invest Country Offices