48797 - GTFP BANRESERVAS

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Summary of Investment Information

Project Number

48797

Company Name

Banco de Reservas de la Republica Dominicana

Date SPI Disclosed

Apr 17, 2026

Country

Dominican Republic

Region

Latin America and the Caribbean

Projected Board Date

May 18, 2026

Environmental Category

C - No Impact

Status

Pending Signing

Last Updated Date

Apr 18, 2026

Department

Regional Industry FIG LAC & EUR

Industry

Financial Markets

Previous Events

Approved : Nov 11, 2004

Sector

Commercial Banking - Trade

Project Description

The proposed project is an unfunded trade finance facility under IFC's Global Trade Finance Program

(“GTFP) of up to US$100 million for Banco de Reservas de Republica Dominicana. (Banreservas or the Bank).

The trade line will support the Bank's short-term trade finance transactions by offering confirming banks

Sponsor / Cost / Location

Development Impact

Issuing Banks (IBs) in Emerging Markets and Developing Economies (EMDEs) face persistent challenges in securing financing to support their customers, particularly traders involved in importing and exporting commodities, including essential goods like food and energy. These IBs rely on global Confirming Banks (CBs) for trade financing, but CBs often face constraints such as counterparty or geographic line limits, increased capital reserve requirements, AML/CFT compliance, and heightened risk perceptions, especially in the wake of recent crises. These limitations leave many IBs in EMDEs underserved, particularly in lower income and fragile or conflict-affected countries where risks are perceived to be higher and CB participation is minimal or nonexistent.

The Global Trade Finance Program (GTFP) addresses these gaps by providing IFC guarantees to mitigate risks for CBs, enabling trade flows that would otherwise not occur. GTFP allocates line limits to participating IBs, which can draw on IFC guarantees for trade transactions requiring risk mitigation. By design, every transaction under GTFP represents trade that would not have happened without IFC's participation. This support is critical for EMDEs, as it facilitates trade, sustains economic activity, and contributes to income and GDP growth.

For IBs, GTFP allows them to continue offering trade finance to their customers without being constrained by limited correspondent banking relationships or passing on higher costs. Additionally, IFC's guarantees help IBs connect with new CBs, strengthen and expand their correspondent banking networks, and build trade finance expertise. This cumulative impact ensures that trade finance remains accessible, fostering economic resilience and growth in underserved markets.

E&S Category Rationale / Risks and Mitigation

The project will support short-term trade finance activities. The E&S risks and impacts associated with these activities are considered low and the project has been categorized as FI-3 in accordance with IFC’s Sustainability Policy. The trade finance activities supported by the Project will be required to meet the requirements of the IFC’s Exclusion List and will not support any coal related activities, non RSPO certified Palm Oil and other exclusions deemed necessary. Higher E&S risk activities that may include: (i) involuntary resettlement; (ii) risk of adverse impacts on indigenous peoples; (iii) significant risks to or impacts on the environment, community, health and safety, biodiversity or cultural heritage; (iv) retrenchment; or (v) significant occupational health and safety risks (e.g., risk of serious injury or fatality to workers) will also not be supported. IFC will also review the details of the underlying trade transactions to confirm that they do not include activities on the IFC Exclusion List and any other exclusions. An ESMS is not needed given the risk nature of this transaction. No ESAP required.

Contacts

For Inquiries About the Project, Contact

Banco de Reservas de Republica Dominicana
Marlyn Kwolek
International Business Director
809-960-4090
MKwolek@banreservas.com
Winston Churchill ave. With Porfirio Herrera Street, Banreservas Tower Santo Domingo, Distrito Nacional
www.banreservas.com

For Inquiries and Comments About IFC, Contact

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IFC Communications
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384

Local Access of Project Documentation

N/A

IFC supports its clients in addressing environmental and social issues arising from their business activities by requiring its real sector clients to set up and administer appropriate grievance mechanisms and/or procedures to address complaints from Affected Communities in relation to environmental and social issues arising from IFC's clients' business activities. Since 2012, IFC's Financial Intermediary clients applying the Performance Standards are required to develop External Communications Mechanisms to receive and review inquiries or complaints from any interested party regarding the E&S risks and impacts of their operations.

For IFC projects that are active or under consideration, individual(s), or their authorized representative(s), who allege they have been or will be adversely affected by E&S risks or impacts arising from IFC's clients' business activities, may submit a complaint to IFC directly for consideration. When receiving an E&S complaint, IFC engages with complainants and works with its clients to find solutions to E&S concerns as quickly and efficiently as possible.

Complaints can be submitted to IFC online at www.ifc.org/escomplaints or by email to EScomplaints@ifc.org.

IFC complaint response is separate from and complementary to IFC’s clients’ project level grievance mechanisms and IFC’s Independent Accountability Mechanism (CAO). Lodging a complaint directly with IFC does not, at any time, restrict access to CAO.

Affected communities have unrestricted access to the Compliance Advisor Ombudsman (CAO), the independent accountability mechanism for IFC and MIGA. CAO facilitates the resolution of complaints related to IFC and MIGA projects and sub-projects, undertakes reviews of IFC’s and MIGA’s environmental and social compliance, fosters public accountability for their commitments, and enhances the environmental and social performance of IFC and MIGA.

Independent of IFC and MIGA management and reporting directly to the IFC and MIGA Boards of Executive Directors, CAO helps resolve issues raised about the environmental and social impacts of projects through a neutral, collaborative, problem-solving approach via its Dispute Resolution function. It also reviews IFC’s and MIGA’s compliance with environmental and social policies, assesses related harm, and recommends remedial actions through its Compliance function. Additionally, CAO provides advice to IFC, MIGA, and their Boards to enhance environmental and social sustainability performance and minimize the risk of harm.

Complaints may relate to environmental and social harm regarding any aspect of the planning, implementation, or impact of a project or sub-project, and can be made by any individual, group, community, entity, or other party affected or likely to be affected by the environmental or social impacts of an IFC- or MIGA-financed business activity.

Complaints can be submitted by any of the following methods:

Online form: available at https://www.cao-ombudsman.org/
Mail/Hand Delivery to: 2121 Pennsylvania Avenue, NW, Washington, DC 20433, USA
Voice mail: +1 202 458 1973
Email: cao@worldbankgroup.org
SMS, WhatsApp, Telegram, and Signal: +1 202 650 2627

CAO receives and addresses complaints in accordance with the CAO Policy, which can be accessed at: https://www.cao-ombudsman.org/policies-guidelines.

This Summary of Investment Information (SII) is prepared by IFC to disclose a factual summary of the main elements of the potential investment. Its purpose is to enhance the transparency of IFC’s activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the project sponsor. IFC considers that this SII is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed in advance of IFC Board of Directors’ consideration and may be periodically updated thereafter. Board dates are estimates only and this document should not be construed as presuming the outcome of the Board Directors’ decision. The following SII is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.

The map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Country borders or names do not necessarily reflect the World Bank Group's official position. In some cases, available project location information is limited to the country of the project's activities. Locations are approximate.

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