The Inter-American Investment Corporation (IIC), has financed a $130 million loan with the National Reserve Bank of the Dominican Republic (BanReservas) to support the activities of importing and exporting companies that are clients of the Dominican financial institution. The operation is the largest syndication in terms of number of participants in the history of the IIC. 14 financial institutions participated in the B loan under the framework of the Trade Finance Facilitation Program (TFFP), which is administered by the IIC. The total amount of the B loan was $110 million, exceeding the initial target of $80 million. In addition, the IIC will provide an A loan in the amount of $20 million. With these resources, BanReservas will expand financing to its more than 3,300 corporate and business clients and 55,000 SME customers in the country. The syndicated loan incorporates 8 new international lenders to BanReservas, while previous investors have extended the terms of their financing. Wells Fargo Bank, with the IIC, acted as bookrunner of the syndication and contributed $21 million to the operation. Bank of China Limited Panama Branch, Commerzbank Aktiengesellschaft and JP Morgan Chase Bank participated as lead arrangers with the IIC and Wells Fargo Bank. Other participants in the deal AKA Ausfuhrkredit-gesellschaft, Apple Bank for Savings, BAC Florida Bank, Bancaribe Curacao Bank, Banco de Crédito e Inversiones, Bankinter, Banque de Commerce de Placements, CoBank, Federated Project and Trade Finance Core Fund and Taiwan Cooperative Bank. About the TFFP Launched in 2005, the TFFP is an IDB Group program aimed at promoting development and economic growth through the expansion of trade finance to banks in Latin America and the Caribbean. The TFFP currently comprises a network of over 300 confirming banks in 64 countries and 103 issuing banks in 21 countries in the region , with more than $2.97 billion in approved credit line. To date, it has provided loans and issued guarantees in support of about 7,300 individual trade transactions worth more than $6.2 billion. The program is administered by the Inter-American Investment Corporation (IIC), the private sector arm of the IDB Group. About the IIC, Member of the IIC Group The Inter-American Investment Corporation (IIC), a member of the Inter-American Development Bank (IDB) Group, is a multilateral development bank committed to supporting the private sector in Latin America and the Caribbean. We finance sustainable enterprises to achieve financial results that maximize social and environmental development for the region. With a current portfolio of $7 billion and over 400 projects in 20 countries, we work across sectors to provide innovative financing and advisory that meet the evolving demands of our clients. About BanReservas The Reserve Bank of the Dominican Republic (BanReservas) is a commercial bank with public capital, founded in 1941 after the acquisition of National City Bank of New York. It is the only bank with a presence in all provinces of the country. By the end of 2015, it had a total of 288 service points and 564 ATMs serving more than two million customers. BanReservas is also the largest financial institution in the country, with $8.66 billion in assets representing 33.5 percent of market share; $6.05 billion in loan portfolio, accounting for 37.8 percent of market share; and $6.61 billion in deposits, representing 34 percent of the market. This market share is the result of a broad customer base, which hold a loan portfolio of foreign trade amounting to more than $1 billion. Contact: José Luis Lobera Telephone: +1 (202) 623-2846 Email: joseluisl@iadb.org