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State Bank Continues to Support Tourism Projects

The “Banco de Reservas,” the State-run bank, has expanded its program to finance tourism projects.   The bank recently announced the creation of a Tourism Trust Fund that will provide financial support to the dynamic sector. The bank maintains a US$230 million portfolio in tourism projects, and is currently in the process of evaluating other proposals valued at US$200 million.

Bank Director Enrique Ramirez Paniagua explained that the Tourism Trust Fund has been especially designed to help support the private sector and the tourism industry by providing funds that will help build new hotels, refurbish older facilities and purchase land for future projects.

He explained that the Fund has already financed such important projects as the Secret Cap Cana Hotel, the Blue Mall shopping center in Punta Cana, the Nickelodean Hotel and the “Azul Sensatori.”

Tourism Trust Fund

Trusts Fund Manager, Christian Alberto Molina, stated that the bank will offer special assistance to entrepreneurs interested in developing tourism projects in the country.

The goal, explained manager Molina, is to help the private sector mitigate investment risks and facilitate access to credit.

Source: Access Dr

Dec 15, 2015

Category: DR News |

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Last updated March 30, 2017 at 10:54 AM
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