Haiti - «IDB Invest» : Loan of USD $5M million to Barbancourt for the climate
IDB Invest will provide financing of up to $5 million to La Société du Rhum Barbancourt S.A, the 163-year-old signature rum producer of Haiti, boosting sustainable rum production through a solar energy capacity project and a recycling facility to reduce bottle consumption. The loan package also includes a guarantee of up to $2.1 million from the Finland-LAC Blended Finance Climate Fund to promote access to corporate climate financing in Haiti.
The project will benefit more than 3,000 small and medium-sized sugarcane farmers in Haiti that supply sugarcane to Barbancourt and it is expected to create 60 direct jobs and 150 jobs at the recycling facilities. Additionally, IDB Invest will provide advisory services to develop a sustainable and inclusive supply chain that will strengthen environmental, social and governance practices.
The project consists of a solar energy project to generate power to cover its energy needs -- replacing existing diesel-run generators -- and building a recycling facility to reduce bottle consumption. This will enable Barbancourt to reduce emissions by approximately 45,000 tons of CO2 by 2030 by switching to solar energy and reusing glass bottles for its production.
