Rewrite this content and keep HTML tags, correct grammar, capitalize bold words, do not rewrite words starting with capital letters. Make shorter sentences to improve readability
From left: David Libre, president of Asonahores; Rosa Hernández, Dominican Ambassador to France; David Collado, Minister of Tourism; and José Manuel Martín de Oliva, Vice President of Tourism Business at Banco Popular.
Paris.- Banco Popular Dominicano has become an important financial backer of tourism in the Dominican Republic, providing 50% of the sector's financing. Credit facilities disbursed and approved for future disbursements have reached US$1.6 billion as of September, including contributions from Banco Popular, its international banking subsidiary based in Panama.
This significant financial support has a direct impact on the development of tourism infrastructure, the renovation of more than 30,000 hotel rooms and the creation of jobs, both direct and indirect, benefiting more than 35,000 people.
These figures were announced at a dinner organised by Banco Popular for hoteliers, tour operators and other representatives of the tourism sector within the framework of the IFTM-Top Resa (International French Travel Market) event, which was held this week in Paris (France). The fair, a key international platform for the promotion of tourism, attracts more than 30,000 professionals from the global travel sector.
Juan Manuel Martín de Oliva, Vice President of Tourism Business at Banco Popular, highlighted the bank’s important role in tourism, stating that “Banco Popular has a market share of over 37% in this vital sector of the Dominican economy.” He emphasized the bank’s long-standing commitment to Dominican tourism, which began more than three decades ago when Banco Popular pioneered tourism financing and then created the first specialized banking unit to serve the needs of the national tourism sector.
Martín de Oliva also explained that Banco Popular, as a “bank of tourism,” continues to promote the sustainable development of a sector that is essential for the growth and well-being of Dominican families. The bank is currently reviewing additional loans worth more than 570 million dollars. These funds are intended for hotel projects in various stages of development, ensuring the expansion of the national tourism offer in the short, medium and long term.
Business meetings
During this year's IFTM-Top Resa, the Banco Popular delegation is holding business meetings with potential investors and tour operators interested in entering or expanding their operations in the Dominican Republic, supported by the bank's financial services.
This financial support has improved the competitiveness of the Dominican tourism industry, positioning the country as a high-quality destination worldwide. Not only has it attracted more international visitors, but it has also encouraged new foreign investments that continue to strengthen the country's tourism infrastructure and create additional employment opportunities.
Banco Popular’s continued support of the tourism sector underscores both its market leadership and its commitment to the country’s economic growth. These investments have fueled the development of large and small tourism projects, helping both established companies and start-ups thrive in the sector.