CABEI makes first disbursement under the MSME Support Facility Program in the Dominican Republic

Santo Domingo, March 9th, 2022.- With the commitment to support Dominican micro, small and medium-sized enterprises (MSMEs) in their economic reactivation after the crisis caused by the COVID-19 pandemic, the Central American Bank for Economic Integration (CABEI) made its first disbursement to the country's private sector for US$255,504 under the  Financial Sector Support Facility Program for the Financing of MSMEs.

Through this program is expected to benefit more than 857 legal entities, which provide an average of 40 jobs each, which translates into more than 34,000 people, and the first financial institution to channel the funds under competitive conditions is Banco de Desarrollo y Exportaciones, S.A. (BANDEX).

"MSMEs are the engine of the regional economy and CABEI's Support Facility has been of great help to them to move forward in all countries. We are pleased to enter into this alliance with BANDEX because we are certain that it will translate into greater opportunities for the productive sectors of the Dominican Republic," said CABEI Executive President Dr. Dante Mossi.

This operation is framed within one of the components of CABEI's COVID-19 Emergency Support and Preparedness Program and its economic reactivation, as well as within the Sustainable Competitiveness Axis of CABEI's 2020-2024 Institutional Strategy, which seeks to contribute to inclusive economic growth and support the countries in their economic policies through the promotion of MSMEs.