Distribution Channels for Remittances

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Through this loan the IDB promotes: (i) changing traditional remittances distribution channels towards newer, low cost, and more efficient ones through technological innovations; (ii) create a loyalty brand between the Dominican communities in the United States which allows lowering the cost of sending remittances through reducing intermediation steps. The main objective of this loan at market rates is to co-finance the organizational and technological adjustment needed in order for a commercial bank like Banco BHD to massively expand its remittances services. This will allow increasing the banking level of the Dominican population with all the related benefits.