Smaller
Bigger
Close Gallery
Santo Domingo.- The Government allocated more than RD$10.0 billion (US$256.4 million)to promote Small and Medium Businesses, Presidency chief of staff Gustavo Montalvo announced Thursday.
He said the Reservas Bank has RD$4.6 billion available, the Agricultural Bank RD$2.0 billion; the Promipyme Agency RD$1.5 billion, the Bank Solidarity, Women and the Poor RD$ 1.0 billion, in addition to another billion pesos donated by the EU for technical assistance and training.
The official said the SMEs can borrow through the Reservas Bank, Agricultural Bank and Promipyme at a preferential rate, according to the applicant’s repayment capacity.
The details were revealed yesterday afternoon during the presentation of the Government Action Plan of the MSMEs, in a a National Palace ceremony headed by President Danilo Medina and Vice President Margarita Cedeño.
Montalvo added that the Presidency issued a decree amending the Law on Public Procurement and Contracting, and among other aspects J orders all agencies to make 20 percent of their purchases from MSMEs starting January.
Facebook
Digg this
del.icio.us
Technorati
Yahoo
The PURPLE Trough is being filled for the "New" PIGS!
Don't you have any friends or know someone that owns a small company because these are the people that going to be applying for the loans? Or have you no shame on criticizing good initiatives for the better of the country. This is what small businesses owners has been asking for year and now they have the chance to get loans at a very low annual interest rate, but for you that is not enough because is the PRD party doing it. You have become a fanatic and hateful person towards anything good that the PLD do or plans to do. Come on man give a rest for heaven sake.
Don't believe the hype bernies! I despise the PRD, PRSC and the PLD; but your right I despise the PLD more because they are currently in total control and biggest theives of all Three!
@ bernies
" Come on man give a rest for heaven sake."
And we all said Amen to that.
This will help many real Dominicans not just corporations. Thank you Danilo!
Great work DANILO!
Why is DT calling it a bailout? the measure is to give loans to poor people (economic opportunity) not to shift the market due to its failure (bailout.)
Cronyism.
Like Bain Capital, Haliburton and Enrron!