• Expands affordable housing financing for middle and lower middle-income households, particularly women and women-led families.
• IDB Invest provides financial support of TTD 250 million to strengthen TTMB’s funding strategies through domestic capital markets.

IDB Invest announced its support to Trinidad and Tobago Mortgage Bank Limited (TTMB), in partnership with Republic Bank Limited (RBL), by subscribing to social bonds totaling 250 million Trinidad and Tobago dollars (approximately US$36.8 million). The funds will enable TTMB to expand its mortgage portfolio, focusing on middle and lower middle-income families, as well as women and women-led households. This marks TTMB’s first thematic issuance and the second in the country.

The transaction was made through the subscription of senior secured social bonds in a Series 1, providing TTMB with long-term financing while supporting the development of Trinidad and Tobago’s local capital markets. The bonds adhere to the Social Bond Principles of the International Capital Market Association (ICMA). 

The bond issuance will support TTMB’s financing of homes to citizens within low and middle-income segments through the Government of Trinidad and Tobago's subsidized mortgage programs. Historically, citizens within these income levels continue to face gaps in accessing credit from financial institutions. Further, women are disproportionately affected due to barriers in accessing credit, pay gaps, and the financial burden of leading one-third of households, increasing their risk of homelessness and insecurity.

The issuance has also received regulatory approval from both the Trinidad and Tobago Securities and Exchange Commission and the Central Bank of Trinidad and Tobago as an asset for inclusion in Statutory Funds.

As part of the preparation towards a thematic issuance, IDB Invest provided advisory services to TTMB to develop a social bond framework. This framework aligns with ICMA's Social Bond Principles, defining eligibility criteria focused on affordable housing, including specific provisions for women and women-led mortgages. IDB Invest also supported TTMB in engaging a Second Party Opinion (SPO) provider to ensure an independent assessment of the bond’s framework, integrity, and impact monitoring.

In addition to financing, IDB Invest is collaborating with TTMB to establish a monitoring and reporting framework to track the bond’s impact, ensuring transparency and alignment with international best practices. This initiative exemplifies IDB Invest’s commitment to fostering financial innovation, fair opportunities, and economic growth in the region.

About IDB Invest

IDB Invest is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development in the region. With a portfolio of USS$21 billion in assets under management and over 394 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries. Visit our website www.idbinvest.org/en. 

About Trinidad and Tobago Mortgage Bank 

Trinidad and Tobago Mortgage Bank (TTMB) is the result of a strategic merger of Trinidad and Tobago Mortgage Finance Company Limited (TTMF) and the Home Mortgage Bank (HMB). TTMB is dedicated to maintaining the highest standards of security and trust, embodying our brand values of being inclusive, caring, innovative, committed, and competent. Our tagline, Own Your Future, reflects our mission: To give our customers the opportunity to build wealth through our line of premier mortgages, investments and commercial product offerings – with a customer centric approach, and dedication to success. 

About Republic Bank Limited

 Republic Bank Limited is part of the Republic Financial Holdings Limited (RFHL) Group and is a leading financial institution with a rich heritage extending over 185 years. Headquartered in Trinidad and Tobago, RFHL is the parent company of the Republic Group, which includes a network of subsidiaries operating across the Caribbean and West Africa. The Group offers a comprehensive suite of financial services, encompassing retail and commercial banking, corporate and investment banking, insurance services, asset management, and merchant banking. RFHL is dedicated to delivering value to its stakeholders, fostering sustainable development within its operating territories, and upholding the highest standards of corporate governance and social responsibility.  Visit our website www.republictt.com.