IDB Financing “Green” Hotel Developments

The IDB has approved a master financing facility of up to $42m in long-term loans for Costa Rica-based developer Caribe Hospitality. The funds will be used to finance up to 8 Marriott hotels in Costa Rica, Nicaragua, Guatemala, Panama, Jamaica, Trinidad & Tobago, and Mexico. The hotels must be able to get Leadership in Energy and Environmental Design (LEED) certification, the standard for “green” building design.