Saturday, January 28, 2023

Commercial bank credits to the export sector increased by more than RD$20 billion in five years

The credit portfolio of multiple banks aimed at the export sector increased RD$20 billion in the last five years, 32% in relative terms, going from RD$63,493.00 million in 2017 to RD$83,888 million in 2022, reported the Association of Banks Multiples from the Dominican Republic (ABA).

The union explained that the results shown by corporate clients, free zones, as well as medium and small exporters, are in line with the interest that multiple banks have historically shown in promoting the export sectors of the Dominican Republic. He indicated that to these efforts is added the realization in the country of the Latin American Congress of Foreign Trade (CLACE), coordinated by the ABA and the Latin American Federation of Banks (FELABAN).

In a press document, the Association of Banks reported that CLACE will be held for the first time in the Dominican Republic from January 31 to February 1 at the Hotel Jaragua. It will bring together authorities, bank executives from the region and experts from various areas who will share their visions and experiences on foreign trade, online commerce, SMEs, technology development and its impact on today’s foreign trade dynamism, among other topics. that are a trend in the area, the union specified.

He explained that the theme of CLACE will be about “Financial services promoting foreign trade in the digital age”, a statement that clearly defines the scenario of foreign trade and financial services, which are increasingly collaborative and inevitably facing the challenges of the age. digital.

The ABA expressed that this event will contribute directly to the strategic vision of the productive sectors that export goods and services, therefore, to continue the sustained development of the economy and also to the positioning of the country, with a view to becoming a regional hub in customs matters.

To access more information, the union made available the page where the agenda and other details of CLACE are available.

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