Skip to main content

Company name

JMMB Group Limited

Project number

14267-01

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
tooltip

FI-2

Country

Jamaica

Sector

Financial Institutions

Status

Approved

Disclosed date

12/04/2023

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

Projected board date
tooltip

02/28/2024

Approval date

02/28/2024

Signed date

03/06/2024

Sponsoring entity

N/A

Investment Operations Department Contact

N/A

Investment type

Syndicated amount

USD $ 59,300,000

Financing amount

USD $ 50,000,000

Currency

USD

Project scope and objective

IDB Invest is considering a senior loan of up to US$100 million in JMMB Group Limited (the “Company”, the “Group”, or “JMMBGL”) of which up to US$59.3 million will be booked through IDB Invest and IDB Invest managed funds while the remaining amount(s) is expected to be co-financed by third party investors. The Company intends to use the funds to (i) support the future growth opportunities of their MSME (including (women-led); (ii) contribute to the initial development and later growth of its green loan portfolio in Jamaica; and (iii) complement their digitalization strategies towards financial inclusion initiatives.

For inquiries, comments and information requests about the project

Request information

Learn 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.

JMMB GROUP SENIOR LOAN FUNDING 14267-01 – JA ENVIRONMENTAL AND SOCIAL REVIEW ESRS

122.9 Kb

For inquiries, comments and information requests about the project

Request information

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

Contact information

For inquiries, comments and information requests about the project

Request information

Alternatively, you may also use the following contact information :

Client Contact

EMAIL

carolyn_dacosta@jmmb.com

PHONE NUMBER

(876) 704-3521

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

Request information

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