• The project will focus on women-led MSMEs in the Dominican Republic
   
• The financing includes a performance-based incentive and advisory services from Women Entrepreneurs Finance Initiative (We-Fi) 

WASHINGTON, D.C. – IDB Invest is providing up to $25 million in long-term financing to Banco Múltiple Caribe Internacional S.A. (Banco Caribe) to increase access to capital for micro, small, and medium-sized enterprises (MSMEs) in the Dominican Republic. The project aims to address key barriers that hinder business expansion for MSMEs, and particularly for women entrepreneurs. 

The financing will help Banco Caribe diversify its funding sources, extending its long-term funding stability and reducing its reliance on short-term deposits.

The financing package consists of two components: a senior loan of up to $25 million with a tenor of up to five years, and a blended finance component of up to $150,000 from We-Fi in the form of performance-based incentives. These incentives will be granted upon the achievement of annual targets with the objective of increasing Banco Caribe’s client portfolio for women-owned or led small and medium-sized enterprises.

Additionally, IDB Invest will provide advisory support under the WE Finance Code (WE Code) initiative, strengthening Banco Caribe’s women’s banking strategy. This assistance includes improving sex-disaggregated data collection and conducting a market diagnostic to size the women-led SME segment. The initiative will also enhance non-financial services while optimizing the credit approval process to better accommodate women-led SMEs.

Access to financial services in the Dominican Republic has improved but remains below the regional average, limiting economic opportunities for MSMEs, which make up 98.4% of businesses. These enterprises face a financing gap equal to 19.3% of GDP. Women entrepreneurs face even greater barriers, including limited access to guarantees and tailored financial products. Bridging these gaps is key to advancing financial inclusion, economic empowerment, and growth – reinforcing the need for targeted solutions like this financing initiative.

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 $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 various sectors. Visit our website idbinvest.org.  

About Banco Caribe  

Banco Múltiple Caribe is a financial institution operating in the Dominican Republic since 2004, committed to offering innovative, accessible, and customer-centric banking solutions. Since its founding, 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 country's economic and social development, Banco Caribe offers financial products and solutions for personal, corporate, and SME banking, characterized by close, customer-oriented service. In recent years, it has become a benchmark for inclusion, equity, and social and environmental sustainability within the Dominican Republic's emerging banking segment. 

About Women Entrepreneurs Finance Initiative (We-Fi)

We-Fi is a collaborative partnership among 14 governments, eight multilateral development banks (MDBs), and other public and private sector stakeholders, hosted by the World Bank Group. They seek to address financial and non-financial constraints faced by women-owned/led small and medium enterprises in developing countries.