Dominican Republic: IFC Launches 2nd Taino Bond, Raising USD 4 Million for Microfinance

Date: 
28 Jul 2016
Source: 
Syminvest

International Finance Corporation (IFC), a member of the World Bank Group, issued a six-and-a-half-year 180 million Dominican peso-denominated bond (approximately USD 4 million) to support domestic capital markets and boost financing for micro-entrepreneurs in the Dominican Republic. This marks the second IFC bond issuance in the country’s domestic capital markets.

IFC will invest the bond proceeds in Banco de Ahorro y Crédito ADOPEM S.A., a leading microfinance institution in the Dominican Republic, to expand long-term, local currency lending to micro-entrepreneurs. Since it was founded Banco ADOPEM has focused on supporting the most vulnerable sectors of society.

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