| Project Detail |
PROJECT NUMBER
14925-01
The proposed transaction consists of a senior unsecured committed loan for Banesco Banco Múltiple, S.A. (“Banesco RD” or the “Bank”) for a total amount of up to US$25 million (the “Project” or “IDB Invest A Loan”), to be financed by IDB Invest in US dollars, with the option to convert to Dominican pesos (“DOP”). The Project will be accompanied by one or more loans related to IDB Invest A Loan for an uncommitted amount of up to US$20 million (“IDB Invest B Loan”). The proposed term for the Project would be up to five years, including a two-year grace period. Additionally, a co-investor is expected to participate with an additional committed amount of up to US$10 million.
The main purpose of the Project is to increase access to financing for Micro, Small, and Medium Enterprises (“MSMEs”), women-led or owned MSMEs (“Women MSMEs”), and the green portfolio in the Dominican Republic.
Furthermore, the Loan may include a component of technical advisory services provided by IDB Invest to support Banesco RD in enhancing its value proposal for MSMEs and Women MSMEs, as well as its internal skills for identifying, segmenting and reporting its green portfolio, so as to improve and increase access for these sectors and segments to financing and non-financial services in the country. |
