Project detail - Banco Multiple Ademi S.A

Banco Multiple Ademi S.A

Status: Approved investment
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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

Banco Múltiple Ademi, S.A. (Ademi) is a longstanding client of FMO since 2011. Ademi is the largest MSMEfocused Financial Institution in the Dominican Republic (total assets USD 342mln, Equity USD 69mln by 1Q23) and in possession of a universal banking license since 2013. The bank is a key player in providing loans and savings products to the Base of the Pyramid and promotes financial inclusion in the Dominican Republic.

What is our funding objective?

FMO's investment of USD 25mln equivalent in local currency (Dominican Peso) has a committed tranche of USD 15mln and an uncommitted tranche of USD 10mln. The investment will help Ademi to continue supporting micro-financial institutions and women-owned SMEs. The facility will dedicate 85% of the proceeds to be on-lent to microentrepreneurs, women-led SMEs, or rural SMEs, and 15% of the proceeds to SMEs in general in the Dominican Republic. Thereby contributing to reducing inequalities.

Why do we fund this investment?

FMO focuses on fostering sustainable economic growth in emerging markets. This facility will increase access to finance microentrepreneurs, SMEs, particularly woman-led SMEs and rural SMEs in the Dominican Republic across various sectors of the economy. The high degree of business informality requires a non-traditional bank like Ademi to provide financing solutions, supporting economic growth and jobs. With this, FMO ensures its strategic goals by promoting financial inclusion. At the same time, the investment is highly additional as it provides a 5-year loan financing supporting Ademi’s funding needs.

What is the Environmental and Social categorization rationale?

Ademi is classified as an FI-C in accordance with FMO’s Sustainability Policy. FMO analyses risks from different perspectives and assessments. In the case of microfinance investments, the E&S classification is typically low because the exposure generally is limited to retail and micro-entrepreneurs. The risks that might come with microfinance investments, such as, among other, over-indebtedness, transparency of interest rates, responsible pricing, are covered by FMO in other assessments such as Client Protection Principles (CPPs). In case of high contextual risk, a human right assessment can be carried out.

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)