BANDEX will provide RD$7,700 billion in financing to the export sector to improve its competitiveness in the first half of 2021
Santo Domingo – The Export and Investment Center of the Dominican Republic (ProDominicana) and the National Export Bank (BANDEX) signed this Monday an interinstitutional cooperation agreement whose objective is to establish a client referral process for the promotion, access to financing and cooperation in relation to the export sector.
The Executive Director of ProDominicana, Biviana Rivero Disla, stated that this inter-institutional alliance between ProDominicana and BANDEX represents another step towards fulfilling the shared objective of promoting and encouraging exports in the Dominican Republic. “For exporters, access to financing is one of the barriers that sometimes makes it difficult for them to expand and modernize their operations,” Riveiro pointed out.
For his part, Juan Alberto Mustafá, General Manager of BANDEX, highlighted that “our team is working at full speed to ensure that during the first half of 2021, $7,700 billion pesos are available for financing for the export sector.”
Mustafá maintained that President Abinader's government plan has assumed exports as one of the main axes for the recovery of the economy in the short term and for this it is essential that producers have access to sources of financing at competitive rates and with the adequate financial advice.
The agreement was signed between the General Manager of BANDEX, Mr. Juan Alberto Mustafá and the Executive Director of ProDominicana, Ms. Biviana Riveiro.
The agreement signed at the ProDominicana headquarters contemplates that BANDEX will provide technical assistance in financial matters, as well as advice, training, and any other service or product that it deems relevant.
About BANDEX
The National Export Bank (BANDEX) is a public financial intermediation entity that promotes the export sector through the channeling of resources and specialized financial products.
