MicroVest participated in a $150 million, Inter-American Development Bank (IDB)-led, trade finance loan to Banreservas, the largest commercial bank in the Dominican Republic, with a $10 million investment from its own account. The investment seeks to support the expansion of financing for international trade activities in the Dominican Republic and the broader Latin American region. MicroVest participated in the A/B loan under the framework of the Trade Finance Facilitation Program (TPPF) facility administered by IDB Invest.
Launched in 2005, the TFFP is an IDB Invest program aimed at promoting development and economic growth through the expansion of trade finance to banks in Latin America and the Caribbean. The facility provides short-term loans to local banks to finance portfolios of eligible trade transactions and credit guarantees to global banks. The TFFP network is comprised of over 100 banks in the Latin American and Caribbean region and over 100 correspondent banks worldwide, with more than $4.5 billion in approved credit lines.
This is MicroVest’s first investment in the Dominican Republic.