Company name
ANSA Merchant Bank Limited
Project number
13089-01
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
FI-2
Country
Trinidad and Tobago
Sector
Financial Institutions
Status
Hold
Disclosed date
04/11/2023
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
06/28/2024
Approval date
11/30/2023
Signed date
12/20/2023
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
N/A
Financing amount
USD $ 50,000,000
Currency
USD
Project scope and objective
The proposed transaction with ANSA Merchant Bank Limited (“ANSA Merchant” or “AMBL”) consists of a financing for up to US$50 million to be comprised of a committed subordinated unsecured loan of up to US$35 million and an uncommitted subordinated loan of up to US$15 million, each to be financed by IDB Invest. Each of the subordinated loans will have a tenor of up to seven years. The purpose of the financing is to support AMBL’s Tier 2 capital financing as follows: the committed subordinated loan will support AMBL’s strategy to grow its SME lending portfolio and develop its digitalization capabilities and the uncommitted subordinated loan will support aimed at AMBL’s lending in green portfolios subject to a robust EMS.
In addition, ANSA Merchant will sign an agreement for technical advisory services provided by IDB Invest aimed at supporting the development of its green finance portfolio and line of business. The Advisory services will include the development of a sustainable finance strategy, a portfolio analysis and segmentation and the development of at least one green financial product.
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Contact information
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Client Contact
N/A
PHONE NUMBER
N/A
POST OFFICE ADDRESS
N/A
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 OfficesIndividuals or communities can submit complaints and concerns related to environmental, social, or corporate governance issues to the Management Grievance Mechanism by e-mailing mgm@iadb.org 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 mecanismo@iadb.org or MICI@iadb.org or calling +1(292) 623-3952.
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.
ANSA MERCHANT BANK LIMITED PARTNERSHIP - 13089-01 - ENVIRONMENTAL SOCIAL REVIEW SUMMARY (ESRS)
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