Company name
JMMB Bank Ltd.
Project number
12793-03
FI-2 operations are those where the risk potential is considered medium: the FI’s current or future portfolio consists of or is expected to consist of, business activities that have potential limited adverse environmental or social risks or impacts that are few in number, generally site-specific, largely reversible, and readily addressed through mitigation measures; or includes a very limited number of business activities with potential adverse environmental or social risks or impacts that are diverse, irreversible, or unprecedented.
E&S category
FI-2
Country
Jamaica
Sector
Financial Institutions
Status
In implementation
Disclosed date
12/12/2019
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
02/04/2020
Approval date
03/11/2020
Signed date
12/23/2020
Sponsoring entity
N/A
Investment Operations Department Contact
Portfolio Management Division
Investment type
Syndicated amount
N/A
Financing amount
USD $ 35,000,000
Currency
USD
Project scope and objective
The proposed transaction with JMMB Bank Ltd (“JMMB Bank”) consists of a senior unsecured financing of up to US$35 million with a tenor of up to 5 years, to be funded by IDB Invest. The use of the proceeds will be to finance the growth of its SME and low- and medium-income housing portfolios in Jamaica. As a complement to this financing, IDB Invest will support the growth of JMMB Bank’s women-led SMEs through a technical assistance component.
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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
julian_mair@jmmb.com
PHONE NUMBER
(876) 383-6998
POST OFFICE ADDRESS
IDB Invest Contact
requestinformation@idbinvest.org
PHONE
+1(202)-566-4566
ADDRESS
1350 New York Ave NW, Washington, DC 20005
COUNTRY OFFICES
IDB Invest Country OfficesFor 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.
ENVIRONMENTAL AND SOCIAL REVIEW
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