He People’s Bank reported that the credits disbursed and financing commitments for the tourism reached $1.6 billion as of September this year.
These figures include contributions from Popular Bankthe banking subsidiary of Popular Group operating from Panama with an international license.
According to a press release from the entity, this financing has a direct impact on the construction of infrastructures hotel and tourism in general, in the renovation of more than 30,000 rooms and in the generation of jobs direct and indirect benefits to more than 35,000 people.
These data were released at the dinner that the People’s Bank offered to hotel entrepreneurs, tour operators and other representatives of the tourism sectorgathered within the framework of the tourism fair IFTM-Top Resa(International French Travel Market), held this week in Paris, France, an international platform for the promotion of tourism on a global scale, attended by more than 30,000 professionals in this industry.
The vice president of the Tourism Business area, Juan Manuel Martín de Oliva, said that, in particular, “the People’s Bank has a market share of over 37% in this key sector for the country’s economy”, thus reaffirming its “historical support for the tourism Dominican for more than three decades.”
$570 million for the tourism
The executive explained, according to a press release from the bank, that Popular continues to promote the “sustainable development of a key sector for the growth and well-being of Dominican families.”
Currently, he explained that the financial organization is studying credits additional funding of more than $570 million. “These financings will be allocated to projects hoteliers in various stages of development, ensuring the expansion in the short, medium and long term of the national tourism offer.”
He also pointed out that Popular “contributed 50% of the financing to the tourism sector from the Dominican Republic.”
IFTM-Top Resa
During this edition of the IFTM-Top Resawhich is held in France, the Popular delegation will maintain an agenda of business meetings with investors potential and tour operators interested in entering into or expanding their relations with the Dominican Republic, accompanied by the financial institution.
“This financial support has allowed us to improve the competitiveness of the tourism Dominican, which in recent decades has positioned the country’s image in the world as a quality destination, which encourages the arrival of more international tourists and attracts new foreign capital, which continues to strengthen the tourist infrastructure of the country and generate more sources of employment”, Popular highlighted.
He stressed that the investments in the sector have allowed the development of large and small projectsdriving both companies consolidated as new entrepreneurships of the sector.
