The European Investment Bank (EIB) announced that it will lend 40 million Euros to commercial banks of the DR. The banks involved are Banco Popular, Baninter, BHD and Bancredito. The terms will be set for a 12-year period, including a four-year grace period, at very low interest rates. This financing is the first installment of an 80-million-Euro line of credit and marks the second loan from the EIB to banks of the DR.
In turn, the commercial banks involved in the transaction will forward the loans, at higher interest rates, to private companies with good credit ratings that qualify for loans between one and four million Euros.
