The “Latin America and Caribbean Private Sector Development Trust Fund (commonly known as TADAC),” funded by the Japan International Cooperation Agency (JICA), (Note), the Inter-American Investment Corporation (IDB Invest) signed a loan agreement on July 17 with ANSA McAL Group (hereinafter “ANSA McAL”), one of the largest conglomerates in the Caribbean, and its subsidiary beverage company, Caribbean Development Company Limited (CDC).
Under this project, a financing facility totaling up to $500 million—including a $50 million loan from the Trust Fund for Private Sector Development in Latin America, the Caribbean, and the Caribbean (TADAC)—has been approved.
This loan will support the modernization of facilities at a conglomerate that operates the only glass container recycling model in the Caribbean, thereby promoting waste reduction and resource circulation and establishing a model for sustainable waste management in the region. Furthermore, in Trinidad and Tobago—a country highly dependent on energy, where non-energy exports account for only 20% of total exports—this loan will support the expansion of exports from the manufacturing sector, such as beverages and glass products, thereby promoting the diversification of foreign exchange earnings. This will reduce vulnerability to international price fluctuations, support the country’s transition away from an energy-dependent economy, and contribute to its economic stabilization. Furthermore, while this is expected to create a more stable business and investment environment for Japanese companies in the medium to long term, future collaboration is also anticipated, given that Japanese companies possess strengths in environmental technologies, energy-saving equipment, and resource recycling technologies.
(Note) JICA has pledged a contribution of 1.5 billion U.S. dollars to the Trust Fund Achieving Development of Latin America and the Caribbean (commonly known as TADAC), established within the Inter-American Development Bank (IDB), the largest development finance institution in Latin America and the Caribbean. TADAC is a mechanism that provides financing to private companies in coordination with loans extended by IDB Invest, the private sector investment and financing arm of the IDB Group. Through its overseas investment and financing activities, JICA contributes to TADAC with the aim of narrowing the funding gap necessary to achieve the SDGs in Latin America and the Caribbean and contributing to sustainable socioeconomic development.
Local staff who use tablet devices to perform logistics and inventory management tasks
・Borrowers
ANSA McAL Limited (ANSA) and Caribbean Development Company Limited (CDC)
・Country (Target Region)
The Republic of Trinidad and Tobago
・Loan Amount (Maximum)
50 million U.S. dollars
・Project Name
Beverage Recycling Support Program
・Business Objectives
This project aims to establish a circular economy in Trinidad and Tobago by providing loans to ANSA—a conglomerate with operations throughout the Caribbean—and its subsidiary beverage company, CDC, to support the reconstruction of beverage production facilities and glass bottle furnaces, among other initiatives.
・Business Overview
The financing provided under this project will be used for CAPEX (capital expenditures) related to CDC’s beverage manufacturing facilities (brewing, packaging, logistics, and HSE) and the furnace reconstruction at Carib Grasswork Limited (CGL), which supplies glass bottles to CDC, as well as for working capital to import raw materials for beverages and glass bottles.
・ Contributions to the SDGs
Goal 9 (Build the Foundations for Industry and Innovation)
Goal 13 (Take concrete action on climate change)
Goal 17 (Let’s Achieve Our Goals Through Partnerships)
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