Promerica DR - Senior and Subordinated Loan for Climate and SMEs Financing (IDBI-14955-01)

Countries
  • Dominican Republic
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • IDB Invest (IDBI)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Sep 4, 2025
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Banco Múltiple Promérica de la República Dominicana, S.A.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 25.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Loan Amount (USD)
$ 25.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 80.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IDBI website

Updated in EWS Aug 1, 2025

Disclosed by Bank Jul 18, 2025

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the IDB Invest, this transaction consists of an unsecured A/B senior loan and a subordinated loan of up to approximately US$80 million (or Dominican Pesos, "DOP", equivalent) to be granted to Banco Multiple Promerica Republica Dominicana, S.A. ("Promerica DR" or the "Bank"). These loans are collectively referred to as the "Project" or the "Loan." The A/B senior loan has a term of up to seven years from disbursement, including a two-year grace period for principal repayment, while the subordinated loan has a term of up to 10 years with a bullet repayment at maturity. IDB Invest will fund up to US$35 million of the Loan, which consists of four parts: (i) up to US$10 million (or its equivalent in DOP) in senior committed funds; (ii) up to US$10 million (or its equivalent in DOP) in senior uncommitted funds; (iii) up to US$5 million in committed subordinated funds; and (iv) up to US$10 million to be provided through blended finance. The remaining portion will be covered by one or more external participants (the "B Loan").

The primary objective of the Project is to enhance access to financing for Small and Medium Enterprises (SMEs), particularly those that are women-owned or led ("Women SMEs"), as well as for green projects within the Dominican Republic. To achieve this objective, the transaction aims to strengthen Promerica DR's long-term financing capabilities, diversify its funding sources, and bolster its capital base, thereby supporting its growth strategy for the loan portfolio, which includes the targeted segments.

Likewise, the Loan may encompass a Technical Advisory Services ("TA") component provided by IDB Invest, aimed at assisting the Bank in enhancing its value proposition and management practices to improve its SME and green portfolio.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Client Contact

EMAIL

Tesoreria@promerica.com.do

PHONE NUMBER

8097328448 Ext. 2247

POST OFFICE ADDRESS

Av. Roberto Pastoriza No. 412, Edificio Altri Tempi, Santo Domingo, Distrito Nacional 10148, Dominican Republic

EMAIL: requestinformation@idbinvest.org

PHONE: +1(202)-566-4566

ADDRESS: 1350 New York Ave NW, Washington, DC 20005

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://www.iadb.org/en/access-information/information-request

ACCOUNTABILITY MECHANISM OF IDB / IDB INVEST

The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IDB Invest)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IDB Invest is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).

How it works

How it works