Company name

N/A

Project number

12469-01

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
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FI-2

Country

Trinidad and Tobago

Sector

Financial Institutions

Status

In implementation

Disclosed date

01/23/2019

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

Projected board date
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04/23/2019

Approval date

04/16/2019

Signed date

05/09/2019

Sponsoring entity

Republic Bank Ltd.

Team leader

Baltazar Vazquez, Lucia Adriana

Investment type

Financing requested

N/A

Syndicated amount

N/A

Financing amount

USD $ 75,000,000

Currency

USD

Project scope and objective

The proposed transaction consists of an unsecured subordinated loan to Republic Bank Ltd. (“Republic”, “Republic Bank” or the “Bank”) denominated in US Dollars (“US$”) for up to US$75 million. The tenor of the financing will be up to seven years. IDB Invest’s subordinated loan will be used by Republic Bank to (i) finance its digital integration process; and (ii) increase the size of its retail portfolio by funding small and medium-sized enterprises (“SME”) and housing.

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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

46.4 Kb

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Contact information

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Request information

Alternatively, you may also use the following contact information:

Client Contact

CONTACT NAME

N/A

POSITION

General Manager

PHONE NUMBER

+1 (868) 625-3617

EMAIL

psalickram@republictt.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