PROJECT

Projects

Summary of Investment Information

Project Number

33857

Company Name

FONDO PARA EL DESARROLLO, INC. - FONDESA

Date SPI Disclosed

Aug 26, 2013

Country

Dominican Republic

Region

Latin America and the Caribbean

Projected Board Date

Sep 25, 2013

Environmental Category

FI-3 - No Impact

Status

Completed

Last Updated Date

Jun 12, 2021

Department

Regional Industry FIG LAC & EUR

Industry

Financial Markets

Previous Events

Approved : Dec 27, 2013
Signed : May 19, 2014
Invested : Jun 20, 2014

Sector

Microfinance and Small Business - Non Commercial Banking

Project Description

The proposed investment (the “Project”) consists of a local currency loan of DOP 200 million for Fondo para el Desarrollo, Inc. (FONDESA or the “Company”) mostly to finance the expansion of women owned businesses. With an average loan size of approximately US$800, FONDESA is an NGO focused in providing financial services to micro entrepreneurs, in rural populations and frontier regions across the Dominican Republic.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation