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
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
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.
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
Contact information
For inquiries, comments and information requests about the project
Request informationAlternatively, you may also use the following contact information :
Client Contact
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
requestinformation@idbinvest.org
PHONE
+1(202)-566-4566
ADDRESS
1350 New York Ave NW, Washington, DC 20005
COUNTRY OFFICES
IDB Invest Country OfficesFor 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.
PAYCE DIGITAL - SENIOR LOAN SUPPORTING FINANCIAL INCLUSION IN BARBADOS 15065-01 (BA) - ESRS
112.6 Kb