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DR Microfinance Facility II

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
Summary sheet
DR Microfinance Facility II

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 Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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