Summary of Proposed Investment
Project Number
30393
Company Name
ASOCIACION LA NACIONAL DE AHORROS Y PRESTAMOS
Date SPI Disclosed
Oct 21, 2011
Country
Dominican Republic
Industry
Financial Markets
Projected Board Date
Nov 21, 2011
Status
Completed
Sector
Primary Mortgage Institutions
Department
Global Industry, Financial Markets
Environmental Category
C - No Impact
Previous Events
Approved : Dec 22, 2011
Signed : Apr 23, 2012
Invested : Nov 30, 2012
Project Description
The proposed investment consists of: i) a local currency loan of approximately 190 million Dominican Pesos (up to $5 million equivalent); and ii) a Partial Credit Guarantee of up to a 400 million Dominican Pesos ($10.5 million equivalent) for Asociación La Nacional de Ahorros y Préstamos para la Vivienda (“La Nacional” or the “Company”) to be used to fund lending activity in the middle-low income mortgage sector (“La Nacional” or the “Project”).
Asociación La Nacional operates commercially as mutual savings and loans focused on providing mortgage loans for middle-low income housing and, to a lesser extent, SME and consumer loans. The Company operates in urban and rural regions throughout 47 branches, 36% of which are located in provinces outside the two main urban areas where banking penetration is especially low.
Asociación La Nacional operates commercially as mutual savings and loans focused on providing mortgage loans for middle-low income housing and, to a lesser extent, SME and consumer loans. The Company operates in urban and rural regions throughout 47 branches, 36% of which are located in provinces outside the two main urban areas where banking penetration is especially low.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Mr. Gustavo Zuluaga
Executive and Business Vice President
Asociación La Nacional de Ahorros y Préstamos para la Vivienda
Av. 27 de Febrero No. 218
Santo Domingo, Dominican Republic
Telephone: +1-809-688-6631
Fax: +1-809-987-6072
Website: http://www.alnap.com.do
Executive and Business Vice President
Asociación La Nacional de Ahorros y Préstamos para la Vivienda
Av. 27 de Febrero No. 218
Santo Domingo, Dominican Republic
Telephone: +1-809-688-6631
Fax: +1-809-987-6072
Website: http://www.alnap.com.do
For Inquiries and Comments About IFC, Contact
General IFC Inquiries
IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
E Mail: Webmaster
IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
E Mail: Webmaster