BANCO MULTIPLE ADEMI, S.A.
Status: Completed investmentWhy disclosure?
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In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Banco Multiple Ademi, S.A. (Ademi) is the largest MSME-focused FI in the Dominican Republic (total assets over USD 400 million) and in the possession of a universal banking license since 2013. The bank is a key player in providing credit and savings products to the Base of the Pyramid and promotes financial inclusion in the Dominican Republic.
What is our funding objective?
The USD 20 million will be converted to local currency (Dominican Peso) to support Ademi to grow its MSME portfolio.
Why do we fund this investment?
There is a high degree of informality which requires a non-traditional bank like Ademi to provide financing solutions. The majority of Ademi’s SME portfolio consists of clients that started off at Ademi as a microenterprise. The loan will be used for on lending to MSMEs, therefore supporting economic growth and jobs.
- Region
- Latin America & The Caribbean
- Country
- Dominican Republic
- Sector
- Financial Institutions
- Effective date
- 3/6/2017
- End date
- 6/22/2022
- Total FMO financing
- USD 17.00 MLN
- Funding
- FMO NV
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - C