SANTO DOMINGO – Multiple banks reported that they invested a total of RD$3.568 billion pesos in corporate social responsibility (CSR) programs developed during 2023, seeking to contribute to the integral development of the country, financial inclusion and the solution of various social and economic problems, reported the Association of Multiple Banks of the Dominican Republic (ABA).
The ABA detailed in a press release that these funds supported initiatives conceived for the long, medium and short term, under the coordination of the CSR areas and foundations of the multiple banks, which included specific programs in cultural, environmental, health, education, sports, financial inclusion, entrepreneurship, gender equality and other areas.
Through a survey conducted among the entities that make up the banking sector, 196 major initiatives were identified, from which multiple specific actions developed in the national territory emerged, explained the ABA.
He pointed out that these included additional immediate response actions, such as those aimed at helping the families affected by the explosion on August 14, 2023, in the main municipality of San Cristóbal.
The Banking Association stated that some 286,000 people were positively impacted by these projects carried out by banking entities throughout the country and 7,860 employees voluntarily joined these activities, for a total of 293,860 people covered in these initiatives during the past year.
The document stated that the voluntary actions of multiple banks are supported and guided by internationally established standards, as well as the sector's commitment to the National Development Strategy, with the aim of contributing to social and economic development in a sustainable manner, and mitigating the impact of business activity on society.
"By investing in the communities where we do business, we can help support scalable progress in financial inclusion, employment, small business development, community solutions and crisis response," the ABA said in its corporate social responsibility report, as outlined in a press release.
For their part, companies that implement these actions also benefit from improved brand valuation and reputation, strengthened internal capabilities, reinforced solidarity alliances, and greater customer confidence, the ABA noted.
According to what was described by the entities participating in the ABA consultation, the scope of corporate social responsibility "is very broad and has a cross-cutting impact on various areas of financial activity, with a significant impact on its environment and with the potential to act as a driver of change, towards a more sustainable, fair and equitable social and economic future" in the Dominican Republic.
