Banco Popular to channel US$50 million from ICO into tourism, energy, and strategic sectors

Santo Domingo.- Banco Popular Dominicano has signed a new financing agreement of up to US$50 million with Spain’s Official Credit Institute (ICO) to support business projects that strengthen economic ties between the Dominican Republic and Spain. The initiative aims to promote productive investment, facilitate trade, and expand financing opportunities for companies operating in both markets.

The agreement marks the third financing round between the two institutions under the ICO International Channel Line. With this latest allocation, the Spanish public financial institution has provided a total of US$150 million to Banco Popular, helping businesses meet financing and liquidity needs while supporting export activities linked to both countries.

The new funds will be directed toward strategic sectors such as tourism, energy, construction, real estate, and hospitality, as well as projects focused on sustainability, energy efficiency, innovation, and digital transformation. Banco Popular highlighted that the initiative aligns with its commitment to responsible banking and sustainable economic development.

The financing deal further expands Banco Popular’s support for the productive sector. According to the Superintendency of Banks, the institution’s business loan portfolio reached RD$395 billion as of March 2026, including RD$178.3 billion allocated to micro, small, and medium-sized enterprises (MSMEs). The bank also complements its financing efforts with digital solutions, business training programs, and entrepreneurship support initiatives.