GCS International, a financial technology (fintech) firm based in the Dominican Republic, and Mastercard, a US-based payment technology firm, recently announced the implementation in Jamaica of their partnership “to develop and deliver digital payments solutions to underserved consumers across the Caribbean.” Using their work in the Dominican Republic as a model, the partners will
Tag: Dominican Republic
MICROCAPITAL BRIEF: Dominican Republic-Based Banco Caribe to Receive $2.64m, Technical Assistance from Oikocredit to Support SMEs
Netherlands-based cooperative Oikocredit recently invested DOP 150 million (USD 2.64 million) in Dominican Republic-based Banco Caribe to support the country’s small and medium-sized enterprises (SMEs), with the hope that the infusion will “further [motivate] responsible investments in the region.” Additionally, Oikocredit will provide Banco Caribe with technical
MICROCAPITAL BRIEF: EIB to Loan $8.3m to Banco ADOPEM, Targeting Women Microentrepreneurs in Dominican Republic
The EU’s European Investment Bank (EIB) recently agreed to loan approximately DOP 480 million (USD 8.33 million) to Banco de Ahorro y Crédito ADOPEM, a microfinance institution (MFI) in the Dominican Republic, targeting microentrepreneurs as they adjust to the COVID-19 pandemic. The wholesale loan will allow ADOPEM to provide approximately 27,000 re