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
Financial Information
Operation Number Lending Type Reporting Currency Reporting Date Signed Date Fund Financial Instrument
EQU/MS-13438-DR Non-Sovereign Guaranteed USD - United States Dollar MIF-Small Enterprise Investment Fund Equity Financing
Operation Number EQU/MS-13438-DR
  • Lending Type: Non-Sovereign Guaranteed
  • Reporting Currency: USD - United States Dollar
  • Reporting Date:
  • Signed Date:
  • Fund: MIF-Small Enterprise Investment Fund
  • Financial Instrument: Equity Financing