Release date: 1 June 2011
Promoter – Financial Intermediary
Financial intermediaries: Various microfinance institutions in the Dominican Republic
Location
Description
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.
Objectives
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.
Sector(s)
Proposed EIB finance (Approximate amount)
Local currency financing (Dominican Pesos) for the equivalent of EUR 25 million.
Total cost (Approximate amount)
Not applicable
Environmental aspects
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.
Procurement
The intermediaries will ensure compliance with the Bank’s procurement guidelines when supporting procurement by the final beneficiaries.
Status
Signed - 20/12/2011
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).