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Supporting access to financial services for micro-entrepreneurs
Project
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Signature date
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Location
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Dominican Republic
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Financing tool
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Financing amount (Euro)
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14184397
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Financing details
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USD 15m loan (equiv. in DOP)
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Customer
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BANCO MULTIPLE ADEMI
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Type of customer
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Financial institution
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Country of headquarters
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Dominican Republic
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Project number
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PDO1069
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Environmental and social ranking
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IF-C
This information is given at the time of signature, without prejudice to any developments in the operation/project.
In the Dominican Republic, Proparco is supporting Banco Ademi, a key local player in the microfinance sector.
Client presentation
Banco Ademi was set up in 1983 as an NGO and mainly operated in Santo Domingo's marginalized neighborhoods. The association’s objective was to strengthen job creation for people in vulnerable situations through financial support and assistance to micro and small enterprises. Banco Ademi became a commercial bank 10 years ago and has maintained its primary mission. It is now the leading Dominican financial institution in the microfinance sector and the largest player on this market. It serves some 171,950 clients and has a network of 74 branches with nationwide coverage.
Project description
Proparco has allocated a senior credit line in Dominican pesos equivalent to USD 15m to Banco Ademi, Dominica’s leading microfinance institution. Proparco’s financing will support the growth in the institution’s loan portfolio, especially for micro-entrepreneurs.
Project impact
The project will have positive impacts in the country:
- Support for 1,025 direct and indirect jobs and 34 microenterprises
- Access to 14,026 micro-credits
The project will thereby contribute to Sustainable Development Goals (SDGs) n° 1 “No poverty”, n° 8 “Decent work and economic growth” and n° 10 “Reduced inequalities”