Santo Domingo, Dominican Republic - The National Export Bank of the Dominican Republic (BANDEX) has just been admitted to the Berne Union, the world's most important network of export financing and risk coverage institutions, founded in January 1934.
BANDEX's entry is through the Prague Club, one of the organizations of the Berne Union in which it will receive information and support as its establishment and development progresses, as well as participate in a space to address the situations specific to the export promotion community in which, as a newly formed bank, it is working to insert itself. The Prague Club of the Berne Union brings together export agencies and banks from relatively less developed countries.
A BANDEX mission composed of its General Manager, Guarocuya Félix, and the Business Director, Sandra Milan, attended the last assembly of the Berne Union in Belgrade to present the formal application for membership of the Bank to that exclusive club of institutions of financing and coverage of world exports. The mission also participated in an intensive workshop on export credit coverage and met with seven (7) of the most important export credit institutions in the world with whom future opportunities were identified and lines of action were agreed upon. I work with the Spanish Export Credit Insurance Company (CESCE), as well as with the National Bank of Foreign Trade BANCOMEXT of Mexico and with EXIMBANK of the United States.
The Berne Union was founded in January 1934 by three private credit insurers from France, Italy, and Spain, and the UK public sector representative. Today, it has 82 members who, in 2016, provided $1.9 trillion USD of protection against payment risk to banks, exporters, and investors, equivalent to 11% of global cross-border trade in goods and services.
The International Union of Credit and Investment Insurers integrates official export credit agencies supported by governments, multilateral financial institutions and private credit insurers from 73 countries around the world.
A recognition of the development of the country
For BANDEX General Manager, Mr. Guarocuya Félix, the Bern Union 's acceptance of the Bank as a member of the Prague Club is a recognition of the Dominican Republic's economic development, the improvement of its indicators, and its commitment to working in accordance with international best practices. The creation of BANDEX as a specialized bank for financing and risk coverage of exports is evidence of these changes, Félix adds.
 acaba de ser admitido en la Unión de Berna, la red más importante de instituciones de financiamiento y cobertura de riesgo a las exportaciones del mundo fundada en enero de 1934.){kind=link}