The In­ter Amer­i­can De­vel­op­ment Bank’s pri­vate sec­tor arm, IDB In­vest, has ap­proved fi­nanc­ing of up to US$500 mil­lion for the ANSA McAL Group to sup­port in­vest­ments aimed at ex­pand­ing in­dus­tri­al ca­pac­i­ty and strength­en­ing sup­ply chains across the Caribbean.

The fi­nanc­ing, an­nounced on Mon­day, rep­re­sents IDB In­vest’s largest ever in­vest­ment in the Caribbean.

An ini­tial com­mit­ment of US$200 mil­lion has been ap­proved. This in­cludes US$150 mil­lion from IDB In­vest, made up of a US$100 mil­lion term loan and a US$50 mil­lion re­volv­ing cred­it fa­cil­i­ty, along with US$50 mil­lion from the Japan In­ter­na­tion­al Co­op­er­a­tion Agency through its Trust Fund Achiev­ing De­vel­op­ment of Latin Amer­i­ca and the Caribbean (TADAC).