Company name

Home Mortgage Bank

Project number

13065-01

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
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FI-3

Country

Trinidad and Tobago

Sector

Financial Institutions

Status

In implementation

Disclosed date

06/10/2020

Projected date at which a project will be put forward for the Board of Executive Directors’ approval.

Projected board date
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11/03/2020

Approval date

11/03/2020

Signed date

11/24/2020

Sponsoring entity

N/A

Team leader

Baltazar Vazquez, Lucia Adriana

Investment type

Financing requested

N/A

Syndicated amount

N/A

Financing amount

USD $ 36,816,400

Currency

TTD

Project scope and objective

The proposed transaction with Home Mortgage Bank (“HMB”) consists of a senior secured financing of up to TT$250 million with a tenor of up to 5 years, to be funded by IDB Invest. One of the mandates of HMB is to develop the secondary mortgage market. Through the use of proceeds, the IDB Invest’s role will be to support and finance the continued growth and development of the housing finance industry in Trinidad and Tobago.


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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. Any gaps with respect to the IDB Invest Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) provided below.

ENVIRONMENTAL AND SOCIAL REVIEW

45.3 Kb

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Contact information

For inquiries, comments and information requests about the project

Request information

Alternatively, you may also use the following contact information:

Client Contact

CONTACT NAME

Mr. Brent Mc Fee

POSITION

CEO

PHONE NUMBER

(868) 625 4972

EMAIL

brent.mcfee@homemortgagett.com

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

COUNTRY OFFICES

IDB Invest Country Offices