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
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B

Country

Dominican Republic

Sector

Social Infrastructure

Status

Proposed

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
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01/30/2022

Approval date

N/A

Signed date

N/A

Sponsoring entity

N/A

Team leader

Zacarias Mateo, OmarAlfredo

Investment type

Financing requested

N/A

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. 

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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

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Contact information

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Alternatively, you may also use the following contact information:

Client Contact

CONTACT NAME

Alberto Bonetti

POSITION

Director Ejecutivo

PHONE NUMBER

+1 (809) 543-7107

EMAIL

al.bonetti@unicaribe.edu.do

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

COUNTRY OFFICES

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