PROJECT

Projects

Summary of Investment Information

Project Number

39665

Company Name

BANQUE DE L'UNION HAITIENNE S.A.

Date SPI Disclosed

May 24, 2018

Country

Haiti

Region

Latin America and the Caribbean

Projected Board Date

Jun 25, 2018

Environmental Category

FI-2 - Limited

Status

Hold

Last Updated Date

May 4, 2019

Department

Regional Industry FIG LAC & EUR

Industry

Financial Markets

Previous Events

Approved : Dec 13, 2018

Sector

Commercial Banking - General

Additional Project Attributes

Blended Finance

Project Description

The proposed project consists in providing long-term financing [in local currency] to Banque de l’Union Haitienne (“BUH” or the “Bank”), in order to support the Bank’s growth and lending services to small and medium enterprises (“SME”). BUH is the fifth largest bank in Haiti with US$271 million in assets, 14 branches and 55,000 clients. The project will be supported by the Global SME Finance Facility which is a partnership with the UK Department for International Development and the Government of the Netherlands.                                                   

Associated Advisory Engagement

The proposed investment would be associated with (i) a risk management advisory program to strengthen BUH’s risk management framework, and (ii) an SME banking advisory program to help BUH build its SME lending capacity.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation