Dominican SMEs Gain Trade Finance Support Through IFC Deal With Banreservas Bank

The agreement connects support for international commerce with broader efforts to stimulate economic activity and create jobs in the Dominican Republic.

Businesses in the Dominican Republic are set to gain greater access to trade financing through an agreement between the International Finance Corporation and Banreservas. IFC, a member of the World Bank Group, will provide a credit line of up to US$100 million to strengthen the bank's trade finance portfolio. The partnership gives Banreservas, the country's leading commercial bank, greater capacity to support clients doing business across international borders.

Small and medium-sized enterprises are a particular focus of the financing, which will expand access to funding for the bank's clients. The credit line will support businesses importing and exporting goods and services, helping them participate more fully in international markets. Access to this financing is expected to open business opportunities for companies seeking to grow through foreign trade.

The agreement connects support for international commerce with broader efforts to stimulate economic activity and create jobs in the Dominican Republic. Banreservas will use the partnership to strengthen its backing for productive sectors whose operations depend on access to overseas markets. For participating businesses, the initiative offers financial support intended to make international trade a more accessible route to expansion.

Helping Dominican businesses compete in global markets

Banreservas Executive President Leonardo Aguilera said the partnership strengthens the bank's ability to support Dominican productive sectors in their international operations. He described the agreement as an opportunity for more businesses to compete, grow and reach customers in global markets. His comments highlighted the role of trade finance in supporting companies as they develop commercial relationships beyond the Dominican Republic.

Supporting smaller companies and employment

Carolina Rendón, World Bank Group Representative in the Dominican Republic, said the collaboration would support foreign trade, empower smaller businesses and help create jobs. Her remarks placed SMEs at the center of the partnership's expected contribution to the country's economy and employment opportunities. The financing brings those priorities into the bank's trade portfolio by increasing the funding available to clients, particularly small and medium-sized enterprises.

Connecting Banreservas with IFC's global trade network

The partnership brings Banreservas into IFC's Global Trade Finance Program, which uses guarantees for trade-related transactions to help reduce risks in emerging markets. Since its launch, the program has provided US$141 billion in trade finance support across more than 100 emerging markets. Membership connects Banreservas with an established international program designed to support trade by addressing risks that can constrain financing.