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Company name

ATLANTIC BANK LIMITED

Project number

14625-01

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

Belize

Sector

Financial Institutions

Status

In implementation

Disclosed date

09/08/2023

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

Projected board date
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11/01/2023

Approval date

11/01/2023

Signed date

11/06/2023

Sponsoring entity

N/A

Investment Operations Department Contact

N/A

Investment type

Syndicated amount

USD $ 15,000,000

Financing amount

USD $ 30,000,000

Currency

USD

Project scope and objective

The financing consists of an unsecured, senior loan of up to US$30 million (the “Financing”, the “Project” or the “Loan””) to Atlantic Bank Limited ("ABL" or the “Bank”) to be comprised as follows: (i) Tranche I consisting of a committed loan in the aggregate amount of up to US$20 million to be funded by IDB Invest with a tenor of up to three years from disbursement date; and (ii) Tranche II consisting of an uncommitted loan in the aggregate amount of up to US$10 million with a tenor of up to three years from disbursement. The main objective of this Project is to support the growth of ABL's Micro, Small and Medium Enterprises (“MSMEs”) portfolio. By increasing the size of this portfolio, the project is expected to generally contribute to increasing financing for the MSME segment in Belize. The Project may include a Technical Assistance (“TA”) to further improve its MSME and Women-led Micro, Small and Medium Enterprises (“WMSMEs") strategy and help ABL develop its Environmental and Social Risk Management Systems (“ESMS”).

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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.

ATLANTIC BANK CARIBBEAN PARTNERSHIP FOR MSME DEVELOPMENT - 14625-01–BL-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

gmaheia@atlabank.com

PHONE NUMBER

+501 223-4123

POST OFFICE ADDRESS

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 .