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    Signature(s)

    Amount
    € 23,000,000
    Countries
    Sector(s)
    Dominican Republic : € 23,000,000
    Credit lines : € 23,000,000
    Signature date(s)
    13/12/2013 : € 1,000,000
    28/12/2011 : € 6,000,000
    20/12/2011 : € 6,000,000
    17/09/2015 : € 10,000,000
    Link to source
    Other links

    Summary sheet

    Release date
    1 June 2011
    Status
    Reference
    Signed | 20/12/2011
    20110006
    Project name
    Promoter - financial intermediary
    DR Microfinance Facility II

    Financial intermediaries: Various microfinance institutions in the Dominican Republic

    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    Local currency financing (Dominican Pesos) for the equivalent of EUR 25 million.
    Not applicable
    Location
    Sector(s)
    Description
    Objectives

    Lines of credit to provide financing in local currency to micro and small enterprises in the Dominican Republic, including an equity participation in FONDESA following its transformation from an NGO into a regulated savings & loans bank.

    Financing of investments undertaken by micro and small scale enterprises active in the industry and services sectors, thereby contributing to employment creation, economic growth and diversification.

    Environmental aspects
    Procurement

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

    The intermediaries will ensure compliance with the Bank’s procurement guidelines when supporting procurement by the final beneficiaries.

    Link to source
    Other links

    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).

    General enquiries and comments

    The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
    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.
    Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

    Media enquiries

    Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

    Complaints mechanism

    Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

    Zero tolerance against fraud and corruption

    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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