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
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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
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03/25/2014

Approval date

05/02/2014

Signed date

07/02/2014

Sponsoring entity

N/A

Team leader

Pereyra Giudice, Francisco

Investment type

Financing requested

N/A

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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EMAIL

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PHONE

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ADDRESS

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