Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Barbados
  • Costa Rica
  • Guyana
  • Paraguay
  • Trinidad and Tobago
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • Inter-American Investment Corporation (IIC)
Bank Risk Rating: B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2016-12-16
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: Unicomer (Trinidad) Limited, El Gallo más Gallo de Alajuela S.A., Wisdom Products S.A.E.C.A., Unicom
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Finance
  • Industry and Trade
Investment Type(s): Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 38.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD): $ 38.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.

Share This Page

 

Contact Us

Do you have more information on
this project, or want to get involved?
Contact EWS

Primary Source

Original disclosure @ IIC website
Updated in EWS: 2017-08-08
Disclosure Date: 2016-11-16
Regal Forest Holdings Co. Ltd. ("Regal Forest")
IIC-11935-02

Project Description
From the IIC: The proposed financing consists of several loans, to be granted directly to some operations of Regal Forest Holdings Co. Ltd., located in Trinidad and Tobago, Costa Rica, Paraguay, Guyana and Barbados. These independent loans will have as an objective to finance the client loan portfolio of each of these operations, specifically for the C&D socioeconomic segment. This is a category B project according to the IIC's Environmental and Social Sustainability Policy because it may result in certain impacts that can be avoided or mitigated following performance standards and guidelines. The main environmental and labor considerations related to the project include: evaluation of the Environmental and Social Management System; Occupational health and safety programs; Emergency plans and aspects of human and labor resources. Regal Forest has operations in 24 countries, of which only 5 (Costa Rica, Trinidad and Tobago, Guyana, Paraguay and Barbados) will be financed through this operation. As of March 2016, the company had 987 stores and more than 14 thousand employees (6,771 women and 8,007 men).
Investment Description
The proposed financing consists of several independent medium term loans, to be granted directly to some operations of Regal Forest Holdings Co. Ltd., located in Trinidad y Tobago, Costa Rica, Paraguay, Guyana and Barbados. These independent loans will have as an objective to finance the client loan portfolio of each of these operations, specifically for the C&D socioeconomic segment. The proposed financing for each Borrower, will be in local currency. The proposed financing includes US$15,000,000 for Unicomer (Trinidad) Limited; US$10,000,000 for El Gallo más Gallo de Alajuela S.A.; US$7,000,000 for Wisdom Products S.A.E.C.A.; US$4,000,000 for Unicomer (Guyana) Incorporated.; US$2,000,000 for Unicomer (Barbados) Ltd.
Contact Information
ACCOUNTABILITY MECHANISM OF IIC The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IIC)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IIC is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).