Dominican Exporters get RD$20.0B+ boost from biggest bank

Dominican Exporters get a RD$20.0M+ boost from biggest bank

Santo Domingo.- Dominican Republic’s biggest bank, Popular andthe Dominican Exporters Association (Adoexpo) on Monday renewed theirinstitutional alliance to promote national exports through the ProExportaPopular platform, which has provided more than RD$20.0 billion credit toexporters at the end of its second year of operations.

At two years since launched, 60% of the beneficiaries are smalland medium enterprises (SME), 76% of loans for industrial sector exporters, 19%to finance the services sector, while the remaining 5% to other productive sectors.

“One of the great innovations of ProExporta is that morethan 350 exporting companies have received training in best accounting andadministrative practices in finance, access to international markets,marketing, among others,” said Luis Espinola, Banco Popular executive vicepresident for International Business and Private Banking.

More than 1,500 copies of the "Guide for exporters”were distributed ceremony attended by ADOEXPO executives. Espinola said the documentsummarizes the legal formalities necessary for export to the United States,Europe and other regions of the world as well as the Dominican governmentagencies involved in the verification exports.

"All this makes ProExporta a pioneer and unique initiative,becoming the leading private response to the development of Dominicanexports," he said.

For Adoexpo president Alvaro Sousa, "ProExporta hasgiven the Dominican exporter a valuable tool for strengthening exports, both interms of financing with which to further develop innovations in terms ofmachinery and new production methods.”