EIB, European Commission and ADOPEM turn the tide on sargassum with €5.6 million package for Dominican businesses

• A €4.5 million EIB Global loan to ADOPEM, backed by an EFSD+ guarantee from the European Commission, will finance sargassum-related projects undertaken by businesses with fewer than 10 employees and by small and medium-sized enterprises in the Dominican Republic.
• €1.1 million in European Commission technical assistance, supported by EIB Advisory, will help develop viable projects, strengthen business capacity and promote safe, sustainable practices across the emerging value chain.
• The Team Europe package, announced in the margins of the 4th EU-Caribbean Global Gateway Conference on Sargassum, supports the Global Gateway flagship initiative “Turning the Tide”.

The European Investment Bank (EIB), through EIB Global, and Banco de Ahorro y Crédito ADOPEM, a Dominican financial institution serving entrepreneurs and smaller businesses, have signed a €4.5 million financing agreement, backed by an EFSD+ guarantee from the Commission and subject to approval by the Superintendency of Banks of the Dominican Republic. The financing will support sargassum-related projects by businesses with fewer than 10 employees, as well as small and medium-sized enterprises, particularly those involved in the collection, transport and safe storage of sargassum in the Dominican Republic. By working through ADOPEM, the operation will channel long-term finance to smaller businesses whose access to credit is often constrained.

The EIB financing is complemented by €1.1 million in technical assistance provided by the European Commission and supported by EIB Advisory, to which Banco ADOPEM and other Dominican financial institutions will have access. Together, the financing and technical assistance form a Team Europe package designed to support a shift from reactive clean-up to a safe, sustainable and commercially viable sargassum value chain that creates local business opportunities, supports jobs and strengthens climate resilience.

Sargassum influxes have become a recurring environmental and economic challenge across the Caribbean, disrupting coastal communities, tourism, fisheries and marine ecosystems. At the same time, emerging business models can create opportunities in areas such as collection, transport, environmentally responsible drying and storage, as well as selected transformation activities, provided that health, safety and environmental risks are properly managed.

The agreement was announced in the margins of the 4th EU-Caribbean Global Gateway Conference on Sargassum in Cancún, Mexico. It supports the Global Gateway flagship initiative “Turning the Tide: Sustainable Practices and Economic Opportunities for Sargassum Value Chain Development in the Caribbean Basin”, which brings together the European Union, Caribbean governments, development finance institutions, researchers and businesses to advance sustainable solutions, economic opportunities and regional cooperation.

The initiative forms part of the broader regional ambition to collect 660,000 tonnes of sargassum by 2027, including 150,000 tonnes in the Dominican Republic, while helping to develop practical and commercially viable uses for the collected biomass.

EIB Vice-President Ioannis Tsakiris said: “Sargassum is a major challenge for Caribbean communities, but with the right financing, expertise and safeguards it can also generate sustainable business opportunities. By combining finance and technical expertise with the support of the European Commission and ADOPEM, we can help local entrepreneurs develop viable solutions, create jobs and strengthen the resilience of coastal communities. This is Global Gateway and Team Europe in action.”

European Commissioner for International Partnerships, Jozef Síkela said: “Record influxes of sargassum are threatening coastal communities and livelihoods across the Caribbean. Through Global Gateway, the EU is working with ADOPEM to support local businesses to turn this growing challenge into an economic opportunity. By giving entrepreneurs in the Dominican Republic access to finance and expertise, we are supporting the transformation of this natural challenge into a valuable resource, creating local jobs and building more resilient coastal communities.”

The technical assistance, supported by EIB Advisory, will enable ADOPEM and prospective borrowers to identify and prepare financeable projects, develop tailored financing solutions, and strengthen technical knowledge, environmental safeguards and compliance. It will also build on an EIB-commissioned value chain study, financed by Luxembourg through the Financial Inclusion Fund and presented to Dominican institutions serving entrepreneurs and smaller businesses in June 2025.

Mercedes Canalda de Beras Goico, President of Banco ADOPEM said: “ADOPEM has a deep commitment to inclusive entrepreneurship and to the communities we serve across the Dominican Republic. This partnership will allow us to accompany local businesses with financing and knowledge so that they can respond to the sargassum challenge responsibly, grow their activities and create new sources of income in coastal areas.”

Background information

EIB Group  

The European Investment Bank (EIB) Group is the financing arm of the European Union, owned by the 27 Member States, and one of the largest multilateral development banks in the world. In 2025, the EIB Group signed €100 billion in new financing and advisory services for over 870 high-impact projects under eight core priorities that support EU policy objectives: climate action and the environment, digitalisation and technological innovation, security and defence, territorial cohesion, agriculture and the bioeconomy, social infrastructure, strong global partnerships and the savings and investments union. Beyond long-term loans for large infrastructure, the EIB Group crowds in private investment for high-risk innovative projects and businesses, with a growing role in Europe’s markets for venture debt, venture capital, guarantees and securitisations.

The European Investment Fund (EIF) is the subsidiary of the EIB Group specialised in providing guarantees, securitisation and equity to improve access to finance for small and medium-sized businesses and startups across Europe. Acting as an anchor investor, through its extensive network of partnering banks and investment funds, the EIF mobilises private investment and nurtures the ecosystem of venture capital funds to support innovative European entrepreneurs.

With the support of all 27 EU governments, the EIF has joined forces with institutional investors in a pan-European alliance to mobilise up to €80 billion for investment into innovative companies scaling up to become global leaders. The joint effort will expand the size and scope of the highly successful European Tech Champions Initiative, which has helped create 15 European mega-funds and scale 47 companies, including 15 unicorns, since being established three years ago.

Photos of the EIB Group’s representatives and headquarters, logo files and video B-roll for media use are available here. 

About EIB Global

EIB Global is the EIB Group’s specialised arm dedicated to increasing the impact of international partnerships and development finance. EIB Global is designed to foster strong, focused partnerships within Team Europe, alongside fellow development finance institutions and civil society. EIB Global brings the Group closer to local people, companies and institutions through our offices across the world.

ADOPEM

Banco de Ahorro y Crédito ADOPEM is a financial institution serving entrepreneurs and smaller businesses across the Dominican Republic through a nationwide network and digital channels. Its founding mission places particular emphasis on improving opportunities for women and underserved communities.