The Central Bank’s Monetary Board has approved the establishment of a development bank for small businesses that could come into operation as early as next February. The bank will have a starting capital of RD$28 million, in addition to US$600,000 that the Inter-American Development Bank (IDB) will put into place via its Multilateral Fund for Investment. Mario Dávalos, the executive director of the Fondo para el Financiamiento de la Microempresa (FONDOMICRO), made the announcement after hearing the Monetary Board’s decision made during its session on 8 August.