EIB to provide US$115mn in credit lines for SME banking facility

Tuesday, April 12, 2011

The European Investment Bank (EIB) is expected to launch a banking facility worth 80mn euros (US$115mn) in lines of credit and subordinated loans to several banks in the Dominican Republic to provide finance access to local SMEs.

The objective will be the "financing of investments undertaken by SMEs active in the industry and services sectors, thereby contributing to employment creation, economic growth and diversification," the EIB said in an investment proposal.

Among the banks included in the facility are Banco Popular Dominicano (BPD), Banco BHD and Banco Multiple León.

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The project is currently under appraisal by the EIB, according to the multilateral's website.