Demerara Distillers Limited (DDL), one of the main economic groups in Guyana and producer of the renowned “El Dorado” brand rum, has received financing through a 22-million dollars loan for the expansion of its production capacity and the construction of a 3.25 MW self-consumption photovoltaic solar energy generation system with battery storage.

The financing package consists of a 20 million dollars loan from IDB Invest’s own resources, while the remainder consists of blended finance resources from the Clean Technology Fund (CTF), managed by IDB Invest. The financing and technical assistance from IDB Invest will contribute to climate change mitigation by helping DDL reduce its carbon footprint. The transaction is aligned with the “25 by 25 Vision” of the Caribbean Community (CARICOM), which requires a 25% percent reduction in the region’s food import bill by the year 2025.