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Reducing inequalities in access to financial services in the Dominican Republic
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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5000000
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Financing details
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DOP 300,039,300 guarantee
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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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CDO1113/CDO1111
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco and Banco Ademi have renewed their partnership to support the country’s entrepreneurs.
Client presentation
Banco Ademi began operations in 1983 as an NGO, was transformed into a savings and credit bank in 2005, and became a commercial bank in 2013. It is today the leading microfinance institution in the Dominican Republic, with a total balance sheet of USD 319m, 163,000 borrowers, 1,700 employees and 74 branches.
Project description
The project involves the allocation by Proparco of two ARIZ and EURIZ portfolio guarantees (PGs), each the equivalent in DOP of EUR 5m, to Banco Ademi. The ARIZ guarantee covers 50% of an MSME loan portfolio. The EURIZ guarantee covers 70% of a loan portfolio exclusively targeting green investments, the digital sector, agriculture, health, education, start-ups, and women’s and youth entrepreneurship.
The support to the microfinance sector in the Dominican Republic through these two PGs is in line with Proparco’s strategic objective n° 3 (“Acting for greater equality”) and has a strong impact on the Bottom 40 (very small and micro firms).
Project impact
By supporting a key microfinance player in the Dominican Republic, this project contributes to reducing inequalities in access to financing for microenterprises, gender inequalities, and economic inequalities.