Company name
Banco Múltiple Caribe Internacional, S.A.
Project number
15016-01
FI-3 operations are those where the risk potential is considered low: the FI’s current or future portfolio consists of financial exposure to business activities that predominantly have minimal or no adverse environmental and social impacts.
E&S category
FI-3
Country
Dominican Republic
Sector
Financial Institutions
Status
In implementation
Disclosed date
10/04/2024
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
04/04/2025
Approval date
04/04/2025
Signed date
06/03/2025
Sponsoring entity
N/A
Investment Operations Department Contact
Financial Institutions Division
Investment type
Syndicated amount
N/A
Financing amount
USD $ 25,000,000
Currency
USD
Project scope and objective
The transaction consists of a senior unsecured loan to Banco Múltiple Caribe Internacional S.A. (“Banco Caribe” or the “Bank”) of up to US$25.15 million (the “Project” or the “Financing”), for a tenor of up to five years with a twelve-month grace period. The IDB Invest portion of the Project will be structured in two tranches: (i) Tranche I consists of a committed amount of up to US$20 million, to be financed in USD or Dominican Peso (“DOP”) equivalent, (ii) Tranche II consists of an uncommitted amount of up to US$5 million, to be financed in USD or DOP equivalent and (iii) up to US$150,000 from a blended finance (BF) component provided by the Women Entrepreneurs Finance Initiative (“We-Fi”). The Project will support Banco Caribe’s long-term financing and will promote the growth of the Bank’s portfolio of small and medium-sized enterprises (“SMEs”) and Women-owned/-led small and medium enterprise (“WSME”) in the Dominican Republic.
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
Contact information
For inquiries, comments and information requests about the project
Request informationAlternatively, you may also use the following contact information :
Client Contact
PHONE NUMBER
809-378-0505 Ext. 4216
POST OFFICE ADDRESS
Av. 27 de Febrero, No. 208, El Vergel, Distrito Nacional, Santo Domingo, República Dominicana
IDB Invest Contact
PHONE
+1(202)-566-4566
ADDRESS
1350 New York Ave NW, Washington, DC 20005
COUNTRY OFFICES
IDB Invest Country OfficesIndividuals or communities can submit complaints and concerns related to environmental, social, or corporate governance issues to the Management Grievance Mechanism by e-mailing [email protected] or by calling +1 202 312 4040.
As a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism by writing to [email protected] or [email protected] or calling +1(202) 623-3952.
IDB Invest has zero tolerance to reprisal or retaliation against anybody who voices its opinion or opposition to IDB Invest-financed projects.
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
Environmental and social review
IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.
BANCO CARIBE SUPPORT WOMEN-LED MSMES AND SMES FINANCING 15016-01-DR - ENVIROMENTAL AND SOCIAL REVIEW (ESRS) - V2
143.4 Kb