BANDEX and FemRD agree to facilitate access to productive credit for women entrepreneurs

Santo Domingo. – The Development and Export Bank (BANDEX) and the Dominican-International Federation of Women Entrepreneurs (FemRD) signed an institutional collaboration agreement aimed at expanding formal financing for women-led companies, especially in activities aimed at export, health, construction and projects with social impact. The agreement was signed by the general manager of BANDEX, Catalino Correa Hiciano, and the president of the Federation, Rossy Margarita Escotto Minaya, who highlighted that this alliance strengthens efforts to promote economic growth, competitiveness, and the participation of women in the Dominican economy. Within the framework of this collaboration, FemRD will be in charge of identifying and channeling its affiliates with viable projects that require financial support to BANDEX, while the bank will evaluate each case according to its credit policies and specialized lines for working capital, investment and expansion, to strengthen the formalization of businesses and support the growth of women entrepreneurs throughout the country.

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“As a development bank, at BANDEX we are committed to promoting productive credit on favorable terms and supporting the sectors that generate value, employment, and inclusion. This alliance allows us to focus our support on business initiatives led by women,” affirmed Catalino Correa Hiciano.

For her part, Rossy Margarita Escotto Minaya pointed out that the agreement “represents a concrete way to access formal financing with the support of a state development bank and a sign of confidence in the ability of women entrepreneurs to continue creating opportunities and projects with social impact.” The agreement reaffirms the commitment of both institutions to comply with Law 155-17 on the prevention of money laundering and terrorist financing, as well as with the role of BANDEX, created under Law 122-21, to channel resources towards strategic productive sectors and with FemRD’s mission to strengthen female leadership and the sustainable growth of women-led companies in the Dominican Republic.

About BANDEX

The National Export Bank (BANDEX) is a public development entity of the Dominican Republic, whose objective is to promote productive financing, innovation, and competitiveness of Dominican companies, with special attention to MSMEs and sectors of social and environmental impact.