Economy January 23, 2024 | 4:32 pm

Buy car in DR

BHD and the ICO ratify an agreement to encourage Spanish investment in the DR

Madrid, Spain.- Banco BHD has obtained approval from the Official Credit Institute of Spain (ICO) for a credit line of up to $50 million. The funds are designated to finance investment projects of business clients associated with shareholders of Spanish origin or those acquiring goods or services from Spain.

Steven Puig, president of Banco BHD, emphasized the utilization of funds for projects and business loans with a sustainability component. The objective is to contribute to sustainable development, growth, wealth distribution, and job creation. The financing will extend to projects addressing climate change and aligning with global development agendas, showcasing the bank’s commitment to responsible banking principles.

Puig also highlighted the availability of funds for any project meeting the criteria of Spanish interest and Banco BHD’s internal policies, as well as those set by the ICO. Luis Molina Maríñez, Senior Vice President of Corporate Banking and Business at Banco BHD, explained that clients must demonstrate Spanish interest, either through direct or indirect participation of a Spanish shareholder or entity in the company’s share capital, or through supplies, works, or services provided by Spanish companies.

These funds will be accessible until October 2024, with financing terms ranging from 180 days to 10 years.

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Paul Tierney
January 24, 2024 7:19 am

The Spanish do not have to be encouraged to invest as they already have a strong presence in the RD.

January 25, 2024 4:00 pm
Reply to  Paul Tierney

More foreign direct investment never hurts.