The Development and Export Bank (Bandex) signed a cooperation agreement with the German-Dominican Chamber of Commerce, Industry and Tourism (CCDA), to promote financial facilities to members of the organization, through referrals of clients in the commercial, energy and tourism sectors.
The objective of the agreement, signed by Juan Mustafa, general manager of Bandex and Karsten Paul Windeler, president of the CCDA, is to strengthen relations between Germany and the Dominican Republic, “while the bank will consult with the CCDA for the execution of bilateral projects”.
Through mutual cooperation, the institutions establish that the CCDA will identify potential clients in need of financing and refer them to Bandex, which the bank will receive in order to evaluate them and provide them with advisory services, technical training and financing.
Bandex will be able to offer the banking products it has available and any other service or product contemplated in its operations catalog, in accordance with the provisions of Law No. 122-21, which transformed the Banco Nacional de las Exportaciones into Banco de Desarrollo y Exportaciones and the legal provisions governing the matter.
The agreement establishes that the clients referred to Bandex must belong to the commercial, energy and tourism sectors, or be part of the value chain of those sectors, but will not be limited to offering goods and services to be exported from the Dominican Republic to Germany.
The banking entity may consult the CCDA for social initiatives linked to the development of exports, “and consider them for the execution of bilateral projects and make them known to society in order to expand its membership”.
The agreement stipulates that the CCDA, through its channels, will identify clients from the commercial, energy and tourism sectors that have a need for financing or financial support, which must remain in this sector or form part of its value chain, or offer goods or services to be exported from the Dominican Republic to Germany.
Once the clients have been identified, the CCDA, “will handle at its own discretion whether to put the client in direct contact with the bank’s business area, or send the contact information directly, so that Bandex may proceed to contact them.
The agreement provides that Bandex will proceed to evaluate the referred clients and reserves the right to accept or reject, according to the evaluations made.