Distribution Channels for Remittances
Through this loan the IDB promotes: (i) changing traditional remittances distribution channels towards newer, low cost, and more efficient ones through technological innovations; (ii) create a loyalty brand between the Dominican communities in the United States which allows lowering the cost of sending remittances through reducing intermediation steps. The main objective of this loan at market rates is to co-finance the organizational and technological adjustment needed in order for a commercial bank like Banco BHD to massively expand its remittances services. This will allow increasing the banking level of the Dominican population with all the related benefits.

Project Detail

Country

Dominican Republic

Project Number

DR0158

Approval Date

April 30, 2003

Project Status

Closed

Project Type

Loan Operation

Sector

PRIVATE FIRMS AND SME DEVELOPMENT

Subsector

MICROENTERPRISE DEVELOPMENT

Lending Instrument

Instrumento del Fondo Multilateral de Inversiones

Lending Instrument Code

MIF

Modality

-

Facility Type

-

Environmental and Social Impact Category (ESIC)

-

Total Cost

USD 2,500,000.00

Country Counterpart Financing

USD 0.00

Original Amount Approved

USD 2,500,000.00
Financial Information
Operation Number Lending Type Reporting Currency Reporting Date Signed Date Fund Financial Instrument
64/MS-DR Non-Sovereign Guaranteed USD - United States Dollar MIF-Small Enterprise Investment Fund MIF Financing
Operation Number 64/MS-DR
  • Lending Type: Non-Sovereign Guaranteed
  • Reporting Currency: USD - United States Dollar
  • Reporting Date:
  • Signed Date:
  • Fund: MIF-Small Enterprise Investment Fund
  • Financial Instrument: MIF Financing