BANDEX works on defining its catalog of products and services following the best international practices in order to support the export sector and its local suppliers.
Santo Domingo, Dominican Republic – The National Export Bank (BANDEX) received a mission from the Inter-American Development Bank (IDB) to work on a technical cooperation program to define its portfolio of financial products based on the financing, security and guarantee needs of the Dominican export sector.
The IDB hired and made available to BANDEX the consulting firm International Financial Consulting of Canada, specialized in development and international trade banks, which has the endorsement of having advised banks and export support institutions in Norway, Denmark, New Zealand, Australia, Mexico, Pakistan, among other countries.
Diane Smallridge and Margaret Sider, president and consultant respectively of the Canadian firm International Financial Consulting, together with Mr. Omar Villacorta, Specialist of the Financial and Capital Markets Division of the IDB, accompanied a team of BANDEX technicians in a program of consultations and analysis with the main actors in the financial and productive sector of the Dominican Republic.
BANDEX works on defining its catalog of products and services following the best international practices in order to support the export sector and its local suppliers.
The IDB hired and made available to BANDEX the consulting firm International Financial Consulting of Canada, specialized in development and international trade banks.
Ms. Smallridge has 30 years of experience in this field including 12 years working at Export Development Canada (EDC), the country's export bank, while Ms. Sider is a consultant specializing in export bank business plans and development with more than 8 years of experience.
The team of international experts and BANDEX staff interviewed representatives of various business associations and export companies in order to develop a diagnosis that serves as input for the development of BANDEX's product portfolio. This included meetings with the leadership of the country's major business associations.
The work also involves work with the Ministry of Finance, regulatory bodies and institutions that accompany BANDEX in its accelerated transformation process towards an export promotion bank.
This technical cooperation is the first of several lines of work underway with the IDB, an organization with which it has been coordinating since July 2016 for several joint work projects.
