Dominican Rep lender in line for US$100mn green boost

Banco Multiple BHD looks to secure up to US$100mn from the IFC to support climate-related lending in the Dominican Republic.

The proposed financing would consist of a three-year senior unsecured “A” loan and benefit small and medium sized enterprises, according to information from the World Bank’s private sector arm.

Eligible projects will target energy efficiency, renewable energy, water efficiency and sustainable transport.

The IFC said that SMEs in the country face an estimated financing gap of US$12.4bn.

The projected IFC board date for the transaction is December 19.

Also from the Caribbean nation, power grid coordinator OC released its latest medium-term operations report for this December to November 2024.

According to the outlook, maximum demand and programmed energy in the period are forecast to hit highs of 3,574MW and 2,334GWh in November and August, respectively.

In the period, natural gas-fired plants are projected to account for 34% of electricity production, coal 30.6%, fuel oil 19.5%, solar 7%, wind 4.75%, hydro 3.15% and biomass 0.9%.