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Signature(s)

Amount
€ 22,000,000
Countries
Sector(s)
Dominican Republic : € 22,000,000
Credit lines : € 22,000,000
Signature date(s)
12/08/2008 : € 3,500,000
10/10/2011 : € 3,500,000
12/08/2008 : € 5,000,000
12/08/2008 : € 10,000,000
Link to source

Summary sheet

Release date
1 July 2008
Status
Reference
Signed | 12/08/2008
20080071
Project name
Promoter - financial intermediary
DR Financing facility
Banco ADEMI, Banco ADOPEM, FONDESA and other eligible microfinance institutions in the Dominican Republic (“the intermediaries”).
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
The equivalent of EUR 18 million in Dominican Pesos and the equivalent of EUR 2 million in USD to be used to provide lines of credits to the intermediaries. EUR 2 million will be set aside for equity participations in the intermediaries in order to support their growth and/ or potential transformation into regulated institutions.
Not applicable.
Location
Sector(s)
Description
Objectives

The facility will provide lines of credit as well as equity and technical assistance to a range of microfinance instititutions in the Dominican Republic. Final beneficiaries will be micro enterprises in the private sector.

The operation intends to promote the growth and support the integration of microfinance institutions in the financial sector with the view of improving access to finance to those enterprises that are excluded from local traditional banking.

Environmental aspects
Procurement

The intermediaries will ensure that the projects to be financed will comply with the EIB’s environmental standards. The promoters’ appraisal processes include an environmental review to verify that the projects are in compliance with the relevant national and regional environmental legislation.

Assets to be financed will be procured on a competitive basis taking into account the nature and size of the goods and services to be purchased. The promoters ensure compliance with the Bank’s procurement guidelines when supporting procurement by the final beneficiaries.

Link to source
Summary sheet

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

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Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
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The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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