Santo Domingo – The Development and Export Bank (BANDEX) announced new financing of RD$1,500 billion, intended to boost the growth of small and medium-sized enterprises (SMEs) in the Dominican Republic.
Juan Mustafá, general manager of BANDEX, reported that the main purpose of this credit is to provide financial resources to SMEs so that they can expand their operations, improve their competitiveness and contribute to national economic development.
In collaboration with various financial institutions, BANDEX has established strategic alliances to act as recipients of these resources, among the entities are Banfondesa, Banco Adopem, Banco Ademi, Vimenca, Banco Unión and Fundación Dominicana de Desarrollo.
“The Government, through BANDEX, continues to reaffirm its commitment to the growth and promotion of SMEs. As strategic allies, this credit is expected to have a positive impact, especially in the areas of greatest need in the country, promoting job creation and economic diversification,” said the general manager of the financial entity.
“The program for SMEs will be available through the institutions with which we have established collaboration agreements, leading entities in this market segment, which ensures experience, transparency and optimal management of these resources,” said Mustafá.
This credit aims to address the specific needs of SMEs, such as access to working capital, financing programs for female empowerment, sustainability and environmental care, development of new products and services, as well as expansion projects.
"The process to obtain financing for this credit will be transparent and accessible for interested small and medium-sized companies, and must be managed directly with the intermediary financial entities established in the alliance and that are part of this program," emphasized the general manager of BANDEX.
“This program is expected to have a significant impact both in the short and long term on the growth and development of SMEs in the country, promoting employment generation, increased productivity and diversification of the economy,” highlighted Mustafá. .
Juan Mustafá highlighted the importance of this loan as a key catalyst for business development in the country, expressing BANDEX's commitment to supporting the growth and expansion of SMEs."
“This new financing represents a unique opportunity for SMEs to access financial resources that will allow them to boost their growth and contribute to the economic development of the country,” said Mustafá.
With strategic collaborations, a transparent process and solid selection criteria, this program promises to mark the beginning of a new stage of growth and prosperity for SMEs in the Dominican Republic, Mustafá reaffirmed.
About BANDEX
The Development and Export Bank (BANDEX) is a financial intermediation entity aimed at promoting strategic productive sectors for the diversification and strengthening of the Dominican economy.
BANDEX places special emphasis on projects that generate a great impact on the population and finances those whose nature demands more favorable conditions for their growth. The financing lines include technology, renewable energy, health infrastructure, medical equipment, machinery to mechanize agricultural production, transportation, water infrastructure, export of goods and services, tourism and the development of small and medium-sized businesses.
