The Medina government is preparing to launch Bandex, or the National Export Development Bank. The bank will use the installations and equipment of the Banco Nacional de Fomento de la Vivienda y la Produccion (BNV), a government entity that in recent years has made headlines for charges of widespread wasteful governmental spending. In its early years, the BNV was the well-respected regulatory organization for savings and loans organizations.
As reported, the change to Bandex has the support of the Center for Export and Investment (CEI-RD). The transformation process is under general manager, Federico Antun Batlle who considered it essential for the country to have a true export bank to channel funds in soft conditions for the promotion of micro, small and medium-sized enterprises (MSMEs).
www.listin.com.do/economia-and-negocios/2013/9/16/292444/Cambio-radical-BNV-sera-Bandex