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ADEMI RURAL MICROFINANCE

Signature(s)

Amount
€ 7,000,000
Countries
Sector(s)
Dominican Republic : € 7,000,000
Credit lines : € 7,000,000
Signature date(s)
1/11/2010 : € 7,000,000
Link to source

Summary sheet

Release date
2 February 2010
Status
Reference
Signed | 01/11/2010
20100044
Project name
Promoter - financial intermediary
Ademi Rural Microfinance

Banco ADEMI
Contact: Mrs. Ramona Rivas, Finance VP

Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
Local currency financing in Dominican Pesos for the equivalent of EUR 5 million.
Not applicable.
Description
Objectives

Line of credit to provide financing to micro, small and medium-sized enterprises in rural areas in the Dominican Republic.

Financing of investments of micro, small and medium scale supporting the growth and development of rural enterprises, mainly in the agro-fishery sector, thereby contributing to rural employment, economic growth and diversification.

Environmental aspects
Procurement

The promoter will ensure that the projects to be financed will comply with the EIB’s environmental standards. The promoter’s appraisal processes include an environmental review to verify that the projects are in compliance with the relevant national and regional environmental legislation.

The promoter ensures compliance with the Bank’s procurement guidelines when supporting procurement by the final beneficiaries.

Link to source

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

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General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

Media enquiries

Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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