SANTO DOMINGO – IDB Invest has approved a financing package of up to $80 million for Banco Múltiple Promerica de la República Dominicana, S.A. (“Promerica RD”) to expand access to credit for small and medium-sized enterprises (SMEs) and to finance sustainability projects in the Dominican Republic. The operation aims to boost economic growth by supporting underserved segments and promoting sustainable investments.

IDB Invest’s financing package includes:

•    a $20 million senior loan

•    a $5 million subordinated loan

•    an additional $10 million loan under a blended finance structure, funded by the Finland-LAC Blended Finance Climate Fund.

The operation also includes the mobilization of $45 million from external investors, including the Dutch entrepreneurial development bank (FMO), Eco.business Fund administered by Finance in Motion, and Enabling Qapital, expanding the reach and impact of the initiative.

In addition to financial support, IDB Invest will provide advisory services to Promerica RD and Grupo Promerica to strengthen their 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 economic losses related to disasters, and the integration of disaster risk. Furthermore, the loan under the blended finance structure includes performance-based incentives for the growth of the green portfolio and the achievement of disclosure milestones in line with ISSB S1 and S2.

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. With a portfolio of $22 billion in assets under management and more than 440 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries. Visit our website: www.idbinvest.org/en.

About Promerica DR

Based in Santo Domingo, Banco Promerica is a multi-service bank with 25 years of presence in the local market. The institution focuses on serving individual clients, small and medium-sized businesses, as well as corporate and institutional customers, in addition to maintaining a strong position in the payments industry. Banco Promerica is part of Grupo Promerica through its holding company, Promerica Financial Corporation, which operates across nine countries in Central America, Ecuador, the Cayman Islands, and the Dominican Republic.

About Finland–Latin America and the Caribbean Blended Finance Climate Fund

The Finland-LAC Blended Finance Climate Fund is a trust fund supported by the government of Finland with the objective of catalyzing greater private investment in climate change adaptation and mitigation in Latin America and the Caribbean, with a focus on poor and vulnerable countries and communities, gender equality, diversity, inclusion, and biodiversity.