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Company name

Plastech Solutions S.A., and Les Enterprises Haiti Solutions S.A.

Project number

14064-01

Category C projects are those that are likely to result in very limited or no adverse environmental or social impacts or risks.

E&S category
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C

Country

Haiti

Sector

Manufacturing

Status

Proposed

Disclosed date

05/09/2022

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

Projected board date
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06/23/2022

Approval date

N/A

Signed date

N/A

Sponsoring entity

N/A

Team leader

Bazan, Paola

Investment type

Syndicated amount

N/A

Financing amount

USD $ 9,000,000

Currency

USD

Project scope and objective

The financing seeks to support the growth and competitiveness of Les Entreprises Plastech Haiti S.A. and Plastech Solutions S.A. (the “Companies”, “Plastech” or the “Borrowers”), a leading company in the plastic industry in Haiti. Plastech has embarked on a multiyear (2022-2023) US$17.2 million investment plan to increase capacity and to optimize production efficiencies while expanding its regional presence. The investment plan includes the purchase industrial machinery and equipment with more efficient technology (less use of raw material) to serve its increasing demand from main clients in Haiti and exports to some countries in the Caribbean region. The IDB Invest will provide an A Loan of up to US$9 million to be complemented by internal cash flow and additional debt. IDB Invest financing will have a 10-year tenor including 12 months of grace period.

ADDENDUM:   May 25, 2022 - A change was made in the Project Scope and Objective, please read correctly as follows:

The financing seeks to support the growth and competitiveness of Les Entreprises Plastech Haiti S.A. and Plastech Solutions S.A. (the “Companies”, “Plastech” or the “Borrowers”), a leading company in the plastic industry in Haiti. Plastech has embarked on a US$13.6 million investment plan to increase capacity and to optimize production efficiencies while expanding its regional presence. The investment plan includes the purchase industrial machinery and equipment with more efficient technology (less use of raw material) to serve its increasing demand from main clients in Haiti and exports to some countries in the Caribbean region. The IDB Invest will provide an A Loan of up to US$9 million to be complemented by internal cash flow and additional debt. IDB Invest financing will have a 10-year tenor including 12 months of grace period.

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.

PLASTECH III - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS) AND ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)

286.7 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

CONTACT NAME

Maulik Radia

POSITION

CEO

PHONE NUMBER

+50937014433

EMAIL

maulikradia@yahoo.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