- Project includes new solar panels and a recycling bottling facility, reducing emissions by approximately 45,000 tons of CO2 by 2030.
PORT AU PRINCE, Haiti – 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.
“We welcome the opportunity to partner with Barbancourt to boost Haiti’s sustainable production and climate mitigation in the Caribbean,” said Aitor Ezcurra, IDB Invest chief investment officer (a.i.). “The resources mobilized through the Finland-LAC Blended Finance Climate Fund will help attract more climate investments to Haiti.”
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.
“At Barbancourt, we strive to be good stewards of the land and practice sustainable farming and manufacturing practices that ensure a cleaner environment and more authentic, organic products,” said Delphine Gardere, CEO of Barbancourt. “The IDB Invest loan will enable us to reduce our carbon footprint while also creating jobs and improving the livelihood of thousands of sugarcane farmers.”
The project is also expected to contribute to the UN Sustainable Development Goals (SDGs): SDG 1: No Poverty; SDG 8: Decent Work and Economic Growth; SDG 10: Reduced Inequalities; and SDG 12 Responsible Consumption and Production.
