Spanish
IDB Invest approved a financing package of up to US$80 million for Banco Múltiple Promerica de la República Dominicana, S.A. (“Promerica RD”) with the aim of expanding access to credit for small and medium-sized enterprises (SMEs), and for green sustainability projects. The operation seeks to boost economic growth, supporting underserved segments and promoting sustainable investments.
The financing provided by IDB Invest amounts to US$35 million, including a senior loan of US$20 million, a subordinated loan of US$5 million, and another loan of US$10 million under a blended finance scheme, financed by the Finland-LAC Blended Climate Finance Fund. In addition, US$45 million will be mobilized from external investors, including the Dutch Entrepreneurial Development Bank (FMO), eco.business fund managed by Finance in Motion and Enabling Qapital, expanding the impact and scope of the operation. In addition to financial support, IDB Invest will provide advisory services to Promerica RD and Grupo Promerica to strengthen their climate risk management capabilities.
This includes a gap analysis aligned with the S1 and S2 standards of the International Sustainability Standards Board (ISSB), the development of tools to assess climate-related economic losses, and the integration of climate risk into the bank's strategy and operations.
Likewise, the loan under mixed financing includes performance-based incentives for the growth of the green portfolio and the fulfillment of disclosure milestones according to ISSB S1 and S2.
This operation exemplifies IDB Invest's commitment to mobilize resources towards high-impact sectors and underserved populations. It contributes to the strategic priorities of the IDB Group: development of SMEs, and supports the national strategies of the Dominican Republic in financial health and environmental sustainability.
Based in Santo Domingo, Banco Promerica is a multiple bank with 25 years of local presence, with emphasis on serving individual clients, small and medium-sized businesses, corporate and institutional clients, as well as the Payment Media business. Banco Promerica is a member of Grupo Promerica (through the holding company Promerica Financial Corporation), which operates in 9 countries located in Central America, Ecuador, Cayman Islands and Dominican Republic. About the Finland–Latin America and the Caribbean Climate Blended Finance Fund The Finland-LAC Climate Blended Finance Fund is a trust fund backed by the government of Finland, which aims to catalyze greater private investment in adaptation and mitigation of climate change in Latin America and the Caribbean, with an emphasis on poor and vulnerable countries and communities, gender equality, diversity, inclusion, and biodiversity.
About IDB Invest
IDB Invest, a member of the IDB Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social and environmental development in the region.
Based in Santo Domingo, Banco Promerica is a multiple bank with 25 years of local presence, with emphasis on serving individual clients, small and medium-sized businesses, corporate and institutional clients, as well as the Payment Media business. Banco Promerica is a member of Grupo Promerica (through the holding company Promerica Financial Corporation), which operates in 9 countries located in Central America, Ecuador, Cayman Islands and Dominican Republic. About the Finland–Latin America and the Caribbean Climate Blended Finance Fund The Finland-LAC Climate Blended Finance Fund is a trust fund backed by the government of Finland, which aims to catalyze greater private investment in adaptation and mitigation of climate change in Latin America and the Caribbean, with an emphasis on poor and vulnerable countries and communities, gender equality, diversity, inclusion, and biodiversity.
