Economy March 14, 2016 | 1:05 pm

Biggest Dominican banks back goal of 10M tourists yearly

Berlin.- President Danilo Medina’s goal of reaching 10million tourists in a decade is on pace, say key tourism business leaders visitingBerlin’s International Tourism Fair.

"If we, all sectors stick together, not 10 million, we’llpass 10 million," said Punta Cana Group president Frank Ranieri, quoted byacento.com.do.

Toward that goal, State-owned Reservas bank deputy administratorWiliam Read Ortiz said they are again at the tourism fair as part of theexpanded funding available for relevant tourism projects.

He said Reservas, the country’s second biggest bank, has loanedUS$260 million for various tourism projects, including new hotels, remodelingof existing structures, shopping centers linked to tourism and the acquisitionof land for future development.

Ortíz said Dominican Republic will exceed Medina’s goal of 10million tourists, bringing with them US$15 billion the economy each year.

Popular bank present

"The vast joint public-private work that is currentlyunderway in the Dominican Republic translates into good results experienced bythe Dominican tourism," said Popular bank Business and Investment executivevice president René Grullon.

While hosting a cocktail gala for Dominican hoteliers andtourism investors during the ITB, Grullon stressed that the biggest Dominican bankreiterates its support for the tourism sector’s sustainable development.

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