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Support for the Environmental and Social Due Diligence mission according to the International Finance Corporation (IFC) performance standards for an investment by the Inter-American Development Bank (BID Invest) for the Haitian rum company Barbancourt
Client : BID Invest
Mission:
Société du Rhum Barbancourt S.A. is a leading producer of sugarcane-based rum in Haiti and one of the country’s largest exporters, with its plant and part of its fields located in Port-au-Prince. The Inter-American Development Bank (BID Invest) planned to grant a loan to the company to finance investments in glass bottle recycling and increased production of photovoltaic solar energy for self-consumption, as well as associated working capital requirements.
As part of this loan, the company is subject to an Environmental and Social Due Diligence (ESD) carried out by BID Invest in accordance with Performance Standards (PS) 1, 2, 3 and 4. Insuco was mandated to support BID Invest in carrying out this Environmental and Social Due Diligence through visits to the company’s site. These visits enabled us to gather information on the company’s Environment, Health and Safety (“EHS”) and social commitments.
Results:
Insuco provided the following services:
- Framing of the study;
- Site visits (factory, fields) and interviews: 6 with key Barbancourt personnel, 1 representative of the surrounding community and 1 with a Barbancourt subcontractor.
- Data analysis and production of deliverables
Insuco submitted the following deliverables:
- Return visit report
- Summary of the Environmental and Social Review (ESR).
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