Company name
Fundación Educativa del Caribe, Inc.
Project number
12659-02
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.
E&S category
B
Country
Dominican Republic
Sector
Social Infrastructure
Status
Hold
Disclosed date
11/04/2020
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
01/30/2022
Approval date
N/A
Signed date
N/A
Sponsoring entity
N/A
Investment Operations Department Contact
Infrastructure and Energy Division
Investment type
Syndicated amount
N/A
Financing amount
USD $ 10,000,000
Currency
USD
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.
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
Client files
This section provides the key environmental and social assessment documents produced by the client for this project.
UNICARIBE - ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP).PDF
599.0 Kb
UNICARIBE - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS).PDF
655.9 Kb
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
al.bonetti@unicaribe.edu.do
PHONE NUMBER
+1 (809) 543-7107
POST OFFICE ADDRESS
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 OfficesIndividuals or communities can submit complaints and concerns related to environmental, social, or corporate governance issues to the Management Grievance Mechanism by e-mailing mgm@iadb.org or by calling +1 202 312 4040.
As a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism by writing to mecanismo@iadb.org or MICI@iadb.org or calling +1(292) 623-3952.
IDB Invest has zero tolerance to reprisal or retaliation against anybody who voices its opinion or opposition to IDB Invest-financed projects.
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .