Home » Business » Piñero obtains a green loan of 175 million to promote his hotel project in the Caribbean | Companies

Piñero obtains a green loan of 175 million to promote his hotel project in the Caribbean | Companies

Grupo Piñero redoubles its commitment to the Caribbean. With 14 hotels and 7,000 rooms in the Dominican Republic and 2 establishments and 1,500 rooms in Jamaica, the company presented this morning a strategic alliance with the Inter-American Development Bank (IDB) and the Banco Popular Dominicano to promote inclusive and sustainable economic growth of tourism in the Dominican Republic and Jamaica. An agreement that has resulted in new sustainable financing of up to 200 million dollars (175 million euros).

“We are very proud to be able to announce this great milestone, the largest agreement of this type reached in the Caribbean, together with two entities such as IDB Invest and Banco Popular. Without a doubt, this agreement is a sign of the market’s confidence in our solvency and excellent reputation in the countries where we are present, as well as our firm commitment to sustainable financing in business management”, stressed Encarna Piñero, CEO of Grupo Piñero, at an event in which she was accompanied by Gema Sacristán, General Director of Business at the IDB, and Christopher Paniagua, President of Banco Popular Dominicano

With the financing obtained, Grupo Piñero will advance in the revitalization of tourism activity in a sustainable way in three aspects (economic, social and environmental). Encarna Piñero, CEO of Grupo Piñero, assured that in the economic field it will continue promoting the socially responsible investment plan through which it will renovate some assets or emblematic hotels with the aim of improving, through innovation, its products and services to offer better customer experiences. On the social side, investment will be made in actions such as training plans or talent management in company programs in order to preserve employment and generate jobs.

From an environmental point of view, Piñero will undertake a significant investment in the Comprehensive Coastal Management Plan, in order to carry out sustainable management of territory and natural resources, as set out in the UN Sustainable Development Goals. With the aim of advancing in the commitment to reduce the carbon footprint by 60% in 2030, it will also provide funds for the energy efficiency plan and the sustainable mobility plan. It will also launch the strategic circular economy plan to optimize resource management and guarantee zero discharge.

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