BID will provide US$25 million for f

WASHINGTON, D.C. – IDB Invest provides up to US$25 million in long-term financing to Banco Múltiple Caribe Internacional S.A. (Banco Caribe) to facilitate access to capital for micro, small and medium-sized enterprises (MSMEs) in the Dominican Republic. The project seeks to address the main barriers that hinder the business expansion of MSMEs, particularly women entrepreneurs. The financing will help Banco Caribe diversify its funding sources, expanding its long-term financial stability and reducing its reliance on short-term deposits. The financial package has two components: first, a senior loan of up to US$25 million, with a term of up to five years; and second, financial incentives of up to US$150,000, granted by the Women Entrepreneurs Finance Initiative (We-Fi), which will be delivered annually as Banco Caribe meets specific goals to expand its portfolio of small and medium-sized enterprises (SMEs) led or owned by women. In addition, IDB Invest will provide advice within the framework of the WE Finance Code (WE Code) initiative, strengthening Banco Caribe's women's banking strategy. This assistance includes improving the collection of gender-disaggregated data and conducting a market diagnosis to size the segment of women-led SMEs, modernizing non-financial services, and optimizing the credit approval process for this important segment. Upon reaching the annual growth targets of this portfolio, Banco Caribe will be recognized with additional incentives. Access to financial services in the Dominican Republic has improved, but remains below the regional average, limiting the economic opportunities of MSMEs, which represent 98.4% of Dominican companies. Women entrepreneurs face even greater barriers, such as limited access to guarantees and tailored financial products. Overcoming these gaps is key to boosting financial inclusion, economic empowerment, and growth.

About IDB Invest

IDB Invest 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. With a portfolio of US$21 billion in managed assets and 394 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that respond to the needs of its clients in a variety of sectors. Visit our website www.idbinvest.org/es   

About Banco Caribe

Banco Múltiple Caribe is a financial institution operating in the Dominican Republic since 2004, committed to offering innovative, accessible, and customer-focused banking solutions. Since its foundation, it has maintained a focus on continuous innovation, financial inclusion, sustainable development, and institutional strengthening, positioning itself as a key player in the evolution of the national financial system. Committed to the economic and social development of the country, Banco Caribe offers financial products and solutions for personal, corporate, and SME banking, characterized by a close and customer-oriented service. In recent years, it has become a benchmark in inclusion, equity, and social and environmental sustainability within the emerging banking segment of the Dominican Republic.

About the Women Entrepreneurs Finance Initiative (We-Fi)

We-Fi is a collaborative alliance between 14 governments, eight multilateral development banks (MDBs), and other public and private sector actors, sponsored by the World Bank Group. It seeks to address the financial and non-financial constraints faced by small and medium enterprises owned or led by women in developing countries.