Distributeurs Nationaux S.A.

in implementation

The Distributeurs Nationaux S.A. ("Dinasa") project consists of acquiring the assets and liabilities of Chevron Haiti Inc. through an acquisition of 100% of the shares of the latter. GB Group has requested that the Inter-American Investment Corporation (IIC) arrange an eight-year term loan comprising an A tranche and a B tranche in order to proceed with this transaction. GB Group and Unifinance from Haiti are shareholders of Distributeurs Nationaux S.A. Dinasa will consolidate Chevron Haiti Inc. The proposed transaction consists of a loan of up to US$18,000,000.The GB Group is an industrial and commercial conglomerate with interests in steel, food, and energy in Haiti where it has operated in Haiti since the 1980s. Unifinance S.A. is a wholly-owned subsidiary of UNIBANK S.A., the largest commercial bank in Haiti. It provides investment and merchang banking services to Haitian and foreign clients in corporate finance, commercial paper and securities issuance. It is part of Groupe Financier National, a diversified financial group of eleven (11) companies. Dinasa is a corporation organized under the laws of Haiti that imports, stores, processes, and sells hydrocarbons and derivatives of petroleum products. Dinasa plans to make Chevron Haiti Inc. a fully local company. Chevron Haiti Inc. is currently a British Virgin Island corporation.With this operation, the IIC will be supporting the consolidation of the only local group in the energy market in Haiti by providing the long-term financing (up to eight years) that such projects usually require. The company plans to implement an environmental and social action plan to improve the conditions of the sector in Haiti and also expects to improve the access of the domestic population to LPG to provide a substitute for charcoal. The IIC will provide guidance on best practices regarding environmental and occupational health and safety issues. The IIC has obtained technical assistance resources from the Korea-IIC SME Development Trust Fund for phase one, which involves carrying out the environmental and social due diligence review of Dinasa and Chevron facilities. Dinasa has also engaged international consultants to support the environmental due diligence process.