Company name
Banco Múltiple Ademi, S.A.
Project number
15184-01
FI-3 operations are those where the risk potential is considered low: the FI’s current or future portfolio consists of financial exposure to business activities that predominantly have minimal or no adverse environmental and social impacts.
E&S category
FI-3
Country
Dominican Republic
Sector
Financial Institutions
Status
Hold
Disclosed date
09/27/2024
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
11/27/2024
Approval date
11/27/2024
Signed date
12/06/2024
Sponsoring entity
N/A
Investment Operations Department Contact
Financial Institutions Division
Investment type
Syndicated amount
N/A
Financing amount
USD $ 20,000,000
Currency
DOP
Project scope and objective
The proposed transaction consists in a senior loan for Banco Múltiple Ademi, S.A. (“Banco Ademi” or the “Bank”) of up to US$20 million (or equivalent in local currency); US$10 million will be committed, whereas the remaining US$10 million will be uncommitted (the “Project” or the “Facility”) with a five‑year tenor. Additionally, the Facility may involve B lenders for an amount equal to or greater than that financed by IDB Invest.
The Project will support the Bank with a long-term financing facility, which will enable the growth of the Micro, Small, and Medium-Sized Enterprise (“MSME”) portfolio, the women-led or -owned Small and Medium-Sized Enterprise (“SME”) portfolio and the green portfolio in the Dominican Republic. The Project is expected to be supported with technical assistance services to help Banco Ademi enhance its gender, diversity and inclusion value proposition to improve and expand the access of women-led or -owned SMEs to financial and non-financial services.
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Contact information
For inquiries, comments and information requests about the project
Request informationAlternatively, you may also use the following contact information :
Client Contact
jgroennou@bancoademi.com.do
PHONE NUMBER
+809-683-0203
POST OFFICE ADDRESS
Banco Múltiple Ademi, S.A. – Oficina Principal: Av. Pedro Henríquez Ureña No. 78, La Esperilla / Santo Domingo / República Dominicana
IDB Invest Contact
requestinformation@idbinvest.org
PHONE
+1(202)-566-4566
ADDRESS
1350 New York Ave NW, Washington, DC 20005
COUNTRY OFFICES
IDB Invest Country OfficesIndividuals or communities can submit complaints and concerns related to environmental, social, or corporate governance issues to the Management Grievance Mechanism by e-mailing mgm@iadb.org or by calling +1 202 312 4040.
As a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism by writing to mecanismo@iadb.org or MICI@iadb.org or calling +1(202) 623-3952.
IDB Invest has zero tolerance to reprisal or retaliation against anybody who voices its opinion or opposition to IDB Invest-financed projects.
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
Environmental and social review
IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.
ADEMI -PARTNERSHIP MSME AND GREE PORTFOLIO 15184-01-DR - ENVIRONMENTAL AND SOCIAL REVIEW ESRS
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