US$40 million financing pact targets women entrepreneurs and green projects

Santo Domingo.- Banesco Banco Múltiple and Dutch development bank FMO have inked a five-year, US$40 million financing agreement to boost credit access for micro, small and medium-sized enterprises in the Dominican Republic, with special focus on women entrepreneurs, youth-led startups and green projects.

Under the deal, at least 40 percent of funds will back businesses owned by women and young entrepreneurs, while 30 percent will support environmentally sustainable initiatives and ventures that spur local economic growth. The remainder will target other high-impact sectors that drive inclusive development.

“This partnership widens financial inclusion in the Dominican Republic,” said Juan José Dada, director of Financial Institutions at FMO. “By channeling resources to women- and youth-led enterprises, microfinance institutions and green projects, we promote job creation, reduce inequalities and strengthen climate resilience.”

Juan Carlos Carneiro, Banesco’s executive president, called the agreement a “decisive step” in the bank’s mission to support the sectors that energize the national economy. He noted that Banesco has already teamed up with institutions like BID Invest, the OPEC Fund and the Eco.Business Fund to deploy credit lines with clear social, environmental and gender-equality outcomes.

With over US$4 billion in assets and a nationwide branch network, Banesco Banco Múltiple combines global expertise with a local focus. The new FMO financing is poised to unlock growth for hundreds of small businesses, create quality jobs in urban and rural areas, and advance the country’s sustainable development goals.