Company name
Banco Múltiple Santa Cruz S.A. (“Santa Cruz”)
Project number
DR3611A-02
FI-2 operations are those where the risk potential is considered medium: the FI’s current or future portfolio consists of or is expected to consist of, business activities that have potential limited adverse environmental or social risks or impacts that are few in number, generally site-specific, largely reversible, and readily addressed through mitigation measures; or includes a very limited number of business activities with potential adverse environmental or social risks or impacts that are diverse, irreversible, or unprecedented.
E&S category 
FI-2
Country
Dominican Republic
Sector
Financial Institutions
Status
Completed
Disclosed date
02/20/2014
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
03/25/2014
Approval date
05/02/2014
Signed date
07/02/2014
Sponsoring entity
N/A
Team leader
N/A
Investment type
Syndicated amount
N/A
Financing amount
USD $ 3,000,000
Currency
USD
Project scope and objective
The proceeds of the proposed operation would help Santa Cruz expand its credit operations with small and medium-sized enterprises (SMEs) of the Dominican Republic, primarily through financing for working capital and/or foreign trade operations. The proposed financing would therefore help Santa Cruz grow its loan portfolio and diversify its sources of medium- and long-term financing. A Dominican bank, Santa Cruz operates through a network of 31 branch offices located throughout the country, and it plans to open three additional branches by year-end 2014.
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Contact information
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Client Contact
CONTACT NAME
N/A
POSITION
N/A
PHONE NUMBER
N/A
N/A
IDB Invest Contact
requestinformation@idbinvest.org
PHONE
+1(202)-566-4566
ADDRESS
1350 New York Ave NW, Washington, DC 20005
COUNTRY OFFICES
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