With this second agreement, they will promote initiatives that encourage the green and digital transition
Santo Domingo, D.N. – The
Banco Popular Dominicano and the Official Credit Institute (ICO) of Spain signed a new financing agreement for up to US$25 million, aimed at supporting the activity of Spanish companies in the Dominican Republic and boosting the commercial relationship between both countries.
This agreement will allow channeling, through Banco Popular, resources towards business projects with Spanish interest, with a special focus on those that promote the green and digital transition.
This agreement consolidates the presence of the ICO International Channel Line in the Caribbean region and represents the second collaboration between both entities.
Thanks to this alliance, Spanish companies that are already clients of Popular will be able to apply for credit, as well as other foreign companies that maintain commercial links with Spanish companies, which significantly expands the scope and base of potential beneficiaries of this financing.
The ICO International Channel Line aims to support the financing of projects of Spanish companies with a presence in international markets, through agreements with local financial institutions.
This model allows companies to access local currency financing and benefit from the intermediary bank’s knowledge of the economic and regulatory environment of the recipient country. Since its creation, this line has mobilized more than €3.024 billion and has financed more than 560 projects in third markets, especially in Latin America and the Caribbean.
“With this new agreement, Popular reaffirms its commitment to attracting foreign investment, job creation, and the sustainable economic development of the Dominican Republic,” said Mr. Christopher Paniagua, executive president of Banco Popular Dominicano.
