Status: Approved investment
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FMO is committed to making publicly available relevant investment information that informs stakeholders and enables them to engage directly with FMO on its investments which, in turn, enhances our investment decisions, the design and implementation of projects and policies, and strengthens development outcomes. Learn more

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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

Banesco Banco Multiple (“Banesco”), established in 2011, is a private universal bank in the Dominican Republic, that provides diversified products and services to enterprises and individuals. By year-end 2018 it had total assets of USD 425mln, ranking #8 among universal banks in the country.

What is our funding objective?

The USD 15 mln 5-year facility is to be on-lent to SMEs.

Why do we fund this investment?

This transaction fits FMO’s strategy of supporting SDG 8, Decent Work and Economic Growth. Banesco is an ideal partner for FMO to contribute to our target as SMEs are in the core of the bank’s strategy. By expanding its portfolio of long tenor loans to SMEs, our partnership with Banesco supports economic growth and job creation in the Dominican Republic.

What is the Environmental and Social categorization rationale?

Banesco is categorized as E&S risk C due to its loan portfolio (small average loan size, low exposure to high risk sectors and no financing of IFC PS triggered projects).

More investments

Date Total FMO financing
11/20/2020 USD 12.00 MLN
Website customer/investment
Latin America & The Caribbean
Dominican Republic
Financial Institutions
Publication date
Effective date
Total FMO financing
USD 15.00 MLN
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)