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IDB Invest loan support for low income citizens

Monday, July 16, 2018
From left, Gabriel Faria, CEO, T&T Chamber, James Scriven, CEO, IDB Invest, Rocio Medina Boliver, Country Representative, IDB Group, Sofia Pena, Principal Advisor of the CEO, IDB Invest, Aitor Ezcurra, Division Chief of Corporation, IDB Invest and Alexandre de Almeida, Lead Risk Management Officer, IDB Invest.

IDB Invest, the private sector institution of the IDB Group, has disbursed financing of up to US$15 million to Unicomer Trinidad, part of the Unicomer Group. This is a medium-term, local currency loan. The funds are intended to finance the client portfolio of Unicomer Trinidad, with a particular focus on reaching low-income citizens.

The loan will allow IDB Invest to support Unicomer Trinidad in strengthening its offer of access to durable goods and financial services, through access to credit, for clients of underserved populations in the country.

The participation of IDB Invest also promotes the increase of loans to microentrepreneurs and women.

The disbursement of this transaction coincided with a recent visit to T&T by IDB Invest CEO James P. Scriven. During Scriven’s visit, meetings were held with leaders of the public and private sectors of T&T, including Minister of Planning and Development Camille Robinson-Regis, as well as representatives of the T&T Chamber and the Trinidad Hotels, Restaurants & Tourism Association.

Robinson-Regis welcomed IDB Invest’s new lending initiative by stating: “IDB Invest’s presence in Trinidad and Tobago signals the confidence of the IDB and its member states in the T&T economy and that this new lending framework supports Government’s development thrust in the financial, non-energy and infrastructure sectors as well as small and medium enterprises lending.”

Scriven gave his commitment to work closely with T&T and other countries in the Caribbean as part of the IDB Invest strategy.

“IDB Invest is investing our time and energy to finance more sectors, offer more financial products and get closer to our clients in-country. My recent trip to Port- of-Spain highlighted the growth and development potential that emerges when IDB Invest and local business collaborate.”


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