Home / Knowledge / News / Textiles / New bank may boost Dominican textile exports: ADITEX
New bank may boost Dominican textile exports: ADITEX
12
Mar '14
Textile exports from Dominican Republic are expected to increase and inject 700 million pesos in the country’s economy, especially due to the funding facilities and training support that would be received by the sector from the National Bank of Development of Exports, which was established recently, said Dominican Association of Textile Industries (ADITEX) president David Cortes.

Mr. Cortes said the decision of turning the National Development Bank of Housing and Production (BNV) into a financial institute specializing in development of exports is a good measure taken up by the Government, and the National Bank of Development of Exports, once operational, is expected to facilitate exports from the textile sector of the country, reports Dominican newspaper Listin Diario.

The bank would be fundamental in facilitating competitiveness amongst textile enterprises that export products and would help in generating more employment and fetch foreign exchange for the country, he added.

According to the ADITEX official, the financial facilities received from the bank could be utilized by the enterprises operating in the sector to implement training facilities and expand production centers to manufacture high-quality textile products that could be exported.

The conversion of BNV into National Bank of Development of Exports was announced by Dominican President Danilo Medina last month. The new bank is established with the objective of providing credit facilities to export-oriented sectors in the country with the aim of facilitating growth and development. Operations at the new bank are expected to begin from June, this year.
 

Fibre2fashion News Desk - India

Must ReadView All

President Donald Trump; Courtesy: White House

Textiles | On 24th Jan 2017

US sets ball rolling for withdrawal from TPP

President Donald Trump has set the ball rolling for withdrawal of the ...

Courtesy: NEJ

Apparel/Garments | On 24th Jan 2017

NEJ fully acquires Bills Khakis from Source Capital

Provider of reverse logistic excess inventory solutions for specialty ...

President Donald Trump; Courtesy: White House

Textiles | On 23rd Jan 2017

US textile industry eager to work with President Trump

The US textile industry is eager to work with President Donald Trump...

Interviews View All

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search