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Company name

Trinidad and Tobago Mortgage Bank Limited

Project number

15131-01

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

Proposed

Disclosed date

10/15/2024

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

Projected board date
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11/18/2024

Approval date

N/A

Signed date

N/A

Sponsoring entity

N/A

Investment Operations Department Contact

Financial Institutions Division

Investment type

Syndicated amount

N/A

Financing amount

USD $ 81,310,400

Currency

TTD

Project scope and objective

The proposed transaction with Trinidad and Tobago Mortgage Bank (“TTMB” or the “Bank”) consists of a senior secured bond financing of up to TTD550 million with a tenor of up to five years, to be funded by IDB Invest and co-investors. 

The use of funds will support TTMB in providing affordable residential mortgage financing in Trinidad and Tobago. As a non-deposit taking institution, TTMB relies primarily on intermediate tenor loans and debt capital markets instruments to fund its lending operations. 

Additionally, this will be the first social bond issuance to be offered to investors in the local capital markets.  The impact of the captioned issuance should encourage the participation and knowledge building capacity of investors towards sustainable bonds. 

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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. 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.

TT MORTGAGE BANK - TTMB SOCIAL BOND -15131-01-TT - ENVIRONMENTAL AND SOCIAL REVIEW ESRS

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Contact information

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Alternatively, you may also use the following contact information :

Client Contact

EMAIL

laurette.walker@ttmortgagebank.com

PHONE NUMBER

1-868-625-8863, Ext. 2100

POST OFFICE ADDRESS

Albion Court, 61 Dundonald Street, P.O. Box 1096, Port of Spain - Trinidad and Tobago

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

For inquiries, comments and information requests about the project

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Learn more about how we provide private-sector solutions in the region .