Establishing a Regulated Rural Microfinance Institution-BANFONDESA

The general objective of the project is to contribute to improving economic conditions of micro and small enterprises as well as low-income families in the Dominican Republic, particularly in rural areas. The specific objective is to support the transition of FONDESA into a regulated institution capable of expanding services and diversifying its product offering directed at micro and small enterprises and low-income populations.

Project Detail

Country

Dominican Republic

Project Number

DR-Q0003

Approval Date

September 26, 2012

Project Status

Cancelled

Project Type

Equity

Sector

FINANCIAL MARKETS

Subsector

CAPITAL MARKET DEVELOPMENT

Lending Instrument

Multilateral Investment Fund Instrument

Lending Instrument Code

MIF

Modality

Facility Type

Environmental and Social Impact Category (ESIC)

Total Cost

USD 18,000,000.00

Country Counterpart Financing

USD 15,500,000.00

Original Amount Approved

USD 2,500,000.00