Fundación Educativa del Caribe, Inc.
Category B projects have potential environmental and/or social impacts and risks that are less adverse than those of a Category A and which are generally limited to the project site, largely reversible and can be mitigated via measures that are readily available and feasible to implement in the context of the operation.
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
Zacarias Mateo, OmarAlfredo
USD $ 10,000,000
Project scope and objective
Universidad del Caribe ("UNICARIBE", the "University" or the "Institution"), is a private Higher Education Institution (HEI), incorporated as a non-profit entity under the laws of the Dominican Republic, formed and operated by Fundación Educativa del Caribe, Inc. It began operations in 1995 in the city of Santo Domingo, where it continues to operate, with more than 31,000 graduates to date. Enrollment exceeds 25,000 students and it has close to 400 employees (more than 55% of whom are women).
The proposed operation consists of a loan to finance UNICARIBE's Strategic and Investment Plan for 2019-2020 (the "Project"), aimed at (i) expanding the university's spaces and physical capacity, which includes completing the refurbishment of a new 6,400 m2 academic and administrative building in Santo Domingo, as well as building a new satellite campus in the City of Knowledge (“Ciudad del Conocimiento”) grounds in the city of Monte Plata (the "Monte Planta Campus"); (ii) expanding the University's academic programs in the short term, with new degrees and professional training courses, in line with the current training needs of the Dominican Republic; (iii) acquiring and implementing specialized distance learning software to strengthen its current platforms and capacities; and (iv) renewing and improving its facilities with new equipment and laboratories.
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