CABEI approves US$30.0 million to Bandex to support Dominican MSMEs affected by COVID-19


These resources will benefit more than 34,000 people, adding to the efforts implemented by the government to promote the reactivation of the Dominican Republic's productive and foreign trade sectors.

Santo Domingo, December 14, 2020.- The Central American Bank for Economic Integration (CABEI) approved a Global Credit Line to Banco Nacional de las Exportaciones, S.A. (Bandex) of the Dominican Republic for an amount of up to US$30.0 million with the objective of supporting the reactivation of the productive sectors and foreign trade through financial intermediation.

Regarding this initiative, CABEI's Executive President, Dr. Dante Mossi expressed "the pleasure in CABEI of being able to support our partner, the Dominican Republic, with resources that allow the economic reactivation of key sectors that generate productive chains translating into labor opportunities.”

It is estimated that by implementing these resources 857 legal entities will benefit, which provide an average of 40 jobs each, which translates into more than 34,000 people benefited. Additionally, this intervention would contribute to maintaining 79 permanent jobs, 39.0% of which are occupied by women.

The operation is framed in the CABEI Institutional Strategy 2020-2024, within the Sustainable Competitiveness Axis and the strategic objective of contributing to the inclusive economic growth and supporting the countries in their economic policies through the promotion of MSMEs.