The EIB has committed support to micro, small and medium sized enterprises (MSMEs) in the Caribbean country of the Dominican Republic. Three local banking institutions, Banco ADEMI, Banco ADOPEM and FONDESA will benefit from EIB lines of credit totalling EUR 20 million and up to EUR 2 million in equity participations. EIB funds will be used to finance the banks’ portfolio of loans to the MSME sector. The EIB has been instrumental in the transformation of ADEMI and ADOPEM from microfinance to banking institutions through previous lines of credit, equity and technical assistance. The new EIB facility will be extended initially to ADEMI, ADOPEM and FONDESA, a third emerging institution; however, the Bank will appraise other microfinance organisations in 2008 and 2009 in a bid to extend access to the funds.
Source: European Commission

Link(s) : Read more EIB and ACP EC Delegation to Dominican Republic