- The project will help address trade and food security, while supporting Massy’s expansion and sustainable growth.
- The import finance facilities will contribute primarily to Massy’s subsidiaries in Barbados, Colombia, Jamaica, and Trinidad and Tobago, promoting food stability.
WASHINGTON, USA – IDB Invest and Massy Group announced a strategic partnership that provides Massy Holdings Ltd., and its wholly owned subsidiary, Massy Integrated Retail Ltd., with a regional financing facility of up to US$150 million to support trade, food security and sustainable growth in the Caribbean.
Massy Integrated Retail Ltd., a leading distribution and retail provider in the Caribbean, will benefit from this financing package, which includes a US$90 million long-term loan to upgrade capital expenditures and support Massy Group’s strategic expansion plans. Additionally, a US$60 million trade finance program will enhance intraregional trade and strengthen its supply chain platform.
The import finance facilities will contribute primarily to Massy’s subsidiaries in Barbados, Colombia, Jamaica, and Trinidad and Tobago, promoting food stability. The funding will enable Massy to expand its regional presence across Latin America and the Caribbean, strengthen and accelerate its investments to help modernize operations, particularly in logistics, retail and distribution.
Around 62 percent of the Caribbean faces food insecurity amplified by climate impacts, which underscores the importance of private sector involvement. Massy is well positioned to address food security through its integrated retail and distribution network, supplying food products to 23 countries in the Caribbean and three countries in Central and South America.
IDB Invest will also provide advisory services to Massy to strengthen local food supply chains, enhance energy efficiency, clean energy transition, promote social inclusion through recruitment, talent development policies and support organizational culture. This would also allow Massy to develop a comprehensive sustainability strategy in line with climate adaptation. In parallel, IDB Invest will deliver advisory services on Digital Transformation for Massy’s Financial Services business line.
This transaction represents IDB Invest’s largest direct financing in a private sector entity in the Caribbean —a milestone made possible through the collaboration of participating countries. “At IDB Invest, we are deeply committed to addressing the most critical challenges in the region by enhancing private-sector competitiveness, job creation, food security and sustainable growth to scale our impact and foster prosperity in the Caribbean,” said James Scriven, CEO at IDB Invest.
IDB Invest and Massy will also collaborate on an Environmental and Social Action Plan to enhance Massy Group’s standards. James McLetchie, deputy CEO of Massy Group said:
“We are honored to be chosen by IDB Invest as a partner in investments that will be pivotal in shaping Massy’s journey to becoming a world-class company. These investments will not only generate strong financial returns but also drive significant impact in areas such as improved governance, sustainability, digital transformation, and workforce development.”
