BERLIN, Germany – The Development and Export Bank (BANDEX) signed a cooperation agreement with the Dominican-German Chamber of Commerce, Industry and Tourism (CCDA) to promote financial facilities for the organization's members through referrals of clients from the commercial, energy and tourism sectors.
The objective of the agreement, signed by Juan Mustafá, general manager of BANDEX and Karsten Paul Windeler, president of the CCDA, indicates that it will strengthen relations between Germany and the Dominican Republic, “while the bank will consult the CCDA for the execution of bilateral projects.” .
Through mutual cooperation, the institutions establish that the CCDA will identify and refer to BANDEX, potential clients in need of financing, whom the bank will receive to evaluate them and provide them with advisory services, technical training support and financing.
BANDEX may offer the banking products it has available and any other service or product contemplated in its catalog of operations, in accordance with the provisions of Law no. 122-21, which transformed the National Export Bank into a Development and Export Bank and the legal provisions governing the matter.
The agreement establishes that clients referred to BANDEX must belong to the commercial, energy and tourism sectors, or be part of the value chain of these sectors, but will not be limited to offering goods and services to be exported from the Dominican Republic to Germany.
The agreement indicates that BANDEX may consult the CCDA for social initiatives linked to export development, “and consider them for the execution of bilateral projects and make them known to society in order to expand its members.”
The agreement provides that the CCDA, through its channels, will identify clients from the commercial, energy and tourism sectors who have a need for financing or financial support, who must remain in this sector or be part of its chain. of value, or offer goods or services to be exported from the Dominican Republic to Germany.
Once the clients have been identified, the CCDA will decide, at its own discretion, whether to put the client in direct contact with the bank's business area , or to send the contact details directly, so that BANDEX can contact them.
The agreement provides that BANDEX will proceed to evaluate the referred clients and reserves the right to accept or reject, according to the evaluations carried out.
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, private 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.
