Baker McKenzie advised the borrower JMMB Bank (Jamaica) Limited, a Jamaican commercial bank, and guarantor JMMB Group Limited, its holding company and one of the leading financial groups in the Caribbean, on an up to USD 50 Million Environmental, Social and Governance (ESG) Senior A/B Loan Facility financed by the Inter-American Investment Corporation (IDB Invest).

JMMB Bank will use the proceeds of the loans under the facility to finance the growth of its Small and Medium Enterprise (SME) and low- and medium-income housing portfolios in Jamaica. In addition, IDB Invest will support JMMB Bank's women-led SMEs through a technical assistance component and all proceeds from the loan facility will be used in compliance with IDB Invest's Environmental and Social Sustainability Policy as well the International Finance Corporation's environmental and social policies and guidelines.  Overall, the financing is targeted at improving five United Nations Sustainable Development Goals (SDGs): Gender Equality (SDG 5), Decent Work and Economic Growth (SDG 8), Industry, Innovation and Infrastructure (SDG 9), Reduced Inequalities (SDG 10) and Responsible Consumption and Production (SDG 12).

JMMB Bank and JMMB Group Limited are represented by partners Charles Cummings and John L. Murphy.

About Baker McKenzie

Baker McKenzie helps clients overcome the challenges of competing in the global economy. We solve complex legal problems across borders and practice areas. Our unique culture, developed over 70 years, enables our 13,000 people to understand local markets and navigate multiple jurisdictions, working together as trusted colleagues and friends to instil confidence in our clients.

As a pioneer in climate and sustainability for more than 20 years, Baker McKenzie is the global leader in sustainable finance. As part of Baker McKenzie’s commitment to sustainability and leading market experience in this growing area, we are proud to leverage our talent, innovation and relationships to make a positive and sustainable societal impact, and partner with our clients from a variety of industries to help them execute their sustainability investments and strategy.

 

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