This alliance reflects the MICM’s commitment to strengthening the MSME ecosystem through public-private articulation.
Santo Domingo. – The Ministry of Industry, Commerce and MSMEs (MICM) and Equifax Dominicana signed an inter-institutional agreement aimed at financial inclusion, formalization, and the business development of Dominican micro, small, and medium-sized enterprises.
The agreement was signed by the Minister of Industry, Commerce and MSMEs, Yayo Sanz Lovatón and the General Manager of Equifax Dominicana, Christian Del Rosario Santana, who highlighted the importance of this strategic alliance to strengthen the MSME ecosystem in the country.
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Minister Sanz Lovatón highlighted that this alliance reflects the MICM’s commitment to promoting and facilitating MSMEs’ access to formal financial tools for the sustainability and growth of the small and medium-sized enterprises that form the core of the national fabric.
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“MSMEs are fundamental to our economy and for employment, which is why we work permanently for their strengthening and innovation together with partners from the private sector,” stated Sanz Lovatón during the signing of the agreement.
As the General Manager of Equifax Dominicana, Christian Del Rosario Santana, stated: “this agreement represents a firm step towards the democratization of credit in the country. At Equifax, we believe that access to accurate data and robust financial education is key for MSMEs to have greater visibility for the formal financial system”.
The agreement establishes an information exchange mechanism based on the MSME and Women MSME Business Classification Certifications issued by the MICM. This will help strengthen the analysis, reports, and credit behavior evaluation models for the sector.
Through this exchange, both institutions will be able to measure the impact of financial inclusion public policies and guide the design of new initiatives with greater technical precision.
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Within the framework of the agreement, the MICM will provide the beneficiary companies of the different certifications and programs, as well as their classification and economic activity, from which Equifax Dominicana will prepare reports and econometric models on the financial behavior of the sector.
Likewise, participants in workshops and activities organized by the MICM will have free access to the MiData Basic Plan, in addition to specialized training on the management and use of these tools.
Additionally, certified MSMEs that join under the framework of the agreement will be able to access a 30% discount on Credit Report plans.
About EQUIFAX
Equifax is a global data, analytics, and technology company with a fundamental role in the global economy, as they help financial institutions, companies, employers, individuals, and government agencies make critical decisions with greater confidence. Equifax has operations and/or investments in 24 countries across North, Central, and South America, Europe, and the Asia Pacific region.
