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Company name

Cave Shepherd Card (Barbados) Inc.

Project number

15065-01

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

Barbados

Sector

Financial Institutions

Status

Proposed

Disclosed date

10/24/2024

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

Projected board date
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12/09/2024

Approval date

N/A

Signed date

N/A

Sponsoring entity

N/A

Investment Operations Department Contact

N/A

Investment type

Syndicated amount

N/A

Financing amount

USD $ 5,000,000

Currency

BBD

Project scope and objective

The Project consists of a senior loan for up to BBD$10 million to Cave Shepherd Card (Barbados) Inc. (“CSCBI” or “Payce Digital”), equivalent to approximately US$5 million and for up to five years, to promote financial inclusion in Barbados. 

The use of funds will support CSCBI’s focus on providing access to credit facilities for persons who are traditionally under-banked. As a non-deposit taking institution, CSCBI relies primarily on wholesale funding to support its lending operations.

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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.

PAYCE DIGITAL - SENIOR LOAN SUPPORTING FINANCIAL INCLUSION IN BARBADOS 15065-01 (BA) - ESRS

112.6 Kb

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Contact information

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Alternatively, you may also use the following contact information :

Client Contact

EMAIL

alison.browne-ellis@paycedigital.com

PHONE NUMBER

1-246-539-7001

POST OFFICE ADDRESS

One Haggatt Hall, Haggatt Hall, St. Michael, Barbados

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 .