Proparco and Banesco Banco Múltiple Support Inclusive and Sustainable Financing in the Dominican Republic

Small and medium-sized enterprises (SMEs) are a key driver of the Dominican Republic’s economy, generating employment and supporting productive activity across the country. However, many businesses, particularly those led by women, continue to face barriers in accessing long-term financing. At the same time, the country faces growing investment needs related to climate change mitigation and sustainable economic development.

Through this new facility, Proparco will support Banesco Banco Múltiple, S.A. in channeling long-term resources toward high-impact economic and social sectors. The operation will help adress financing gaps, foster inclusive growth, and support job creation in the Dominican Republic.

The financing is structured around three priorities, in line with Proparco’s strategic objectives in the country:

- 50% of the facility will finance eligible projects led by women entrepreneurs, in line with the 2X Challenge criteria;

- 30% will support climate change mitigation investments;

- 20% will strengthen Banesco’s SME financing strategy.

Valéry Vicini, Regional Director Dominican Republic and Haiti at Proparco, stated: “This new operation with Banesco reflects Proparco’s commitment to supporting inclusive and sustainable growth in the Dominican Republic. By expanding access to long-term financing for SMEs, women-led businesses, and climate investments, we aim to contribute to job creation, financial inclusion, and the transition toward a more resilient economy. This transaction strengthens our relationship and represents the second collaboration between Proparco and Banesco, following a first USD 15 million SME financing operation signed in August 2021.”

Juan Carlos Carneiro, Executive President at Banesco Banco Múltiple, S.A., added: “This second operation with Proparco strengthens our capacity to accompany Dominican businesses with long-term financing at a time when the country needs it to grow sustainably. For Banesco, broadening access to credit for SMEs and women-led businesses, and supporting climate investment, is part of how we understand our role in the country’s development. We are grateful to Proparco for the confidence placed in our institution.”