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Company name

Sygnus Credit Investments Limited

Project number

15286-01

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

Bahamas

Sector

Financial Institutions

Status

Proposed

Disclosed date

01/14/2025

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

Projected board date
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03/21/2025

Approval date

N/A

Signed date

N/A

Sponsoring entity

N/A

Investment Operations Department Contact

Financial Institutions Division

Investment type

Syndicated amount

N/A

Financing amount

USD $ 10,000,000

Currency

USD

Project scope and objective

We are considering a US$10 million Working Capital (“WC”) line to Sygnus Investment Bahamas Inc. with a 5‑year tenor to finance Small and Medium-Sized Enterprise (“SME”) receivables in The Bahamas. The loan will be 100% guaranteed by Sygnus Credit Investments Ltd. Initially the obligator will be the government of The Bahamas, but they plan to gradually onboard stable blue chip private sector companies.

This solution is anticipated to provide liquidity to SMEs in The Bahamas by purchasing short-term receivables with maturities ranging from three months to less than a year. Additionally, this WC line will deepen the local capital market by introducing new securities that offer liquidity to SMEs without them incurring additional debt. The IDB Invest will be providing funding as well as support to Sygnus in offering this flexible financing solution that traditional banks may be reluctant to support. 

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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.

SYGNUS BAHAMAS SME RECEIVABLES WORKING CAPITAL - 15286-01– BH 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

gregory.hines@sygnusgroup.com

PHONE NUMBER

+ 1 (819) 351-9803

POST OFFICE ADDRESS

80 Lady Musgrave Road, Kingston 10 Jamaica

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 .