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DR-Q0003 : Establishing a Regulated Rural Microfinance Institution-BANFONDESA

Project Status: Cancelled

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

Project Number

DR-Q0003

Approval date

September 26, 2012

Project Country

Dominican Republic

Project Sector

FINANCIAL MARKETS

Project Subsector

CAPITAL MARKET DEVELOPMENT

Project Type

Equity

Project Lending Type

NSG

Project Modality

Project Facility Type

Project Status

Cancelled

Operation Number

EQU/MS-13438-DR

Financial Information

Project Number

DR-Q0003

Project Status

Cancelled

IDB Financing

Financing type

EQU

Fund

MIF-Small Enterprise Investment Fund

Reporting currency

USD - United States Dollar

Reporting date

Jun/30/2023

Roles & Responsibilities

Project Information

Total Cost

USD 18,000,000

Country counterpart financing

USD 15,500,000

Amount

USD 2,500,000

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