IFC lends US$20 million to BHD.(DOMINICAN REPUBLIC)(International Finance Corp)(Banco Hipotecario Dominicano)(Brief Article)

0 Comments | Caribbean Update, July, 2003

The World Bank's International Finance Corp. (IFC) will lend the Banco Hipotecario Dominicano (BHD) US$20 million, reports DR1 Daily News (June 10, 2003). This is the first time that a Dominican bank will take advantage of the mechanisms to obtain international capital to strengthen a bank's financial base, as provided in the Monetary and Finance Law passed in November 2002.

The money will be used in equal parts for capital structures and to augment money available for making loans to medium-sized businesses.