The Institute for Dominicans Abroad (INDEX) and the Development and Export Bank (BANDEX) signed a collaboration agreement to promote exports from the Dominican Republic through businesses of Dominican citizens living abroad and to attract investment capital from the diaspora for the national productive sectors.
The agreement was signed during the FITUR Tourism Fair held in Madrid, Spain, by the vice minister for Dominican Communities Abroad of the Ministry of Foreign Affairs and executive director of INDEX, Carlos de la Mota, and the general manager of BANDEX, Juan Mustafa.
The agreement includes a referral agreement in which INDEX will identify potential clients in the diaspora that participate or are interested in entering the export sector or national productive sectors that have a need for financing or financial support.
The sectors considered in the agreement are tourism; the agricultural sector, including agriculture, livestock, poultry, forestry, beekeeping and fishing; mining; manufacturing; renewable energies; telecommunications; construction; and any other sector that contributes to the production of domestic goods and services for the purpose of generating an exportable supply.
During the signing of the agreement, Juan Mustafa, Manager of BANDEX said that “Dominican communities living abroad are natural ambassadors of Dominican products and we want to take advantage of the potential they have to promote the country’s exports, building a co-development relationship that benefits Dominicans living in the country and abroad, as promoted by President Luis Abinader in his government work”.
Carlos de la Mota, executive director of INDEX, stated that “through the collaboration between INDEX and BANDEX, we will be able to identify and support business leaders from our communities abroad and help them connect with business opportunities in the Dominican Republic”.
In addition, as agreed, INDEX will promote the services and products of BANDEX in the Dominican communities living abroad through its various channels, social networks and institutional relations.
For its part, BANDEX undertakes to provide the clients referred by INDEX with advice, technical training in financial matters, financing and other products from its catalog of services, as well as to promote the projects and programs, talks, workshops, courses, diploma courses and other information generated by INDEX for the benefit of the Dominican communities residing abroad through its various channels to amplify the messages and calls for these programs.
The agreement includes the design of a work plan between the institutions to address the needs of the Dominican diaspora with respect to the promotion of national identity, the linkage with their communities of origin to promote co-development and enhance the capabilities of the diaspora and access to information and services.
Banco de Desarrollo y Exportaciones (BANDEX) is a public financial intermediation entity dedicated to the promotion of strategic productive sectors for the diversification and strengthening of the Dominican economy.
BANDEX places special emphasis on projects that generate a great impact on the livelihoods of the population, and finances projects whose nature demands more favorable conditions for their growth. Financing lines include technology, renewable energy, private health infrastructure,
medical equipment, machinery to mechanize agricultural production, transportation, water infrastructure, export of goods and services, tourism, and the development of small and medium-sized enterprises.
The Institute for Dominicans Abroad (INDEX) is a decentralized and operational entity of the Ministry of Foreign Affairs whose objective is to develop, design and execute development programs, actions and projects aimed at the Dominican community abroad, with special emphasis on strengthening social and economic ties with their places of origin, as well as the promotion of national identity.
INDEX, as a promoter of the State’s public policies abroad, seeks to promote the integration of the diaspora in the national development at all levels, making possible the transfer of resources in multiple ways for the growth and progress of the country, emphasizing the commitment and integrity that INDEX as an institution possesses.
and integrity that it possesses as an institution.
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