Share the page

Proparco supports Banesco Dominican Republic in its SME financing activity

Signature

Published on

Banesco proparco credit rep dom
DR

The 15 million dollar line of credit granted by the private sector subsidiary of the French Development Agency (AFD Group) will support the growth strategy of this bank committed to small businesses in the Dominican Republic.

Founded in 2011, Banesco Dominican Republic is a financial institution specializing in financing SMEs, particularly the smallest ones which suffer from limited access to financing and consequently have great difficulties in developing.

The bank plays a key role in financing small businesses in the areas of trade, services and real estate. The bank has also developed extra-financial support for its clients, in particular to help them cope with the consequences of the Covid-19 crisis. 

The $15 million loan granted by Proparco will enable the bank to strengthen its SME financing activity in the Dominican Republic. This is the 2nd operation between Proparco and the Banesco Group after a first financing granted to Banesco in Panama in 2019.

This operation should make it possible to support 185 SMEs and more than 4,500 indirect jobs over the next few years. It will thus contribute to the Sustainable Development Goal N°8 (Decent employment and economic growth).