Summary of operations
Road Infrastructure: Financing for 148 kilometers of highways.
Energy: Financing for the generation of 80 megawatts of clean renewable energy.
Agro Sector: US$ 60 million for the strengthening of the agricultural sector with a sustainable technological approach.
A 228% increase in the amount estimated in the 2021-2026 country strategy, reaching US$ 1.8 billion. In the previous five-year period the disbursement amounted US$ 533.9 million.
PROJECTS
Coral Highway Project
It consisted of the construction of a 70-kilometer-long, 4-lane highway, for which financing of US$70.0 million was allocated.
Improvement and Expansion of the Eastern Road Corridor for road sections
San Pedro de Macorís-La Romana Section, La Romana Beltway Section and Eastern Tourist Boulevard Section, totaling 78 kilometers in length and representing the best road infrastructure in the country.
Palomino Hydroelectric Project
With a clean and renewable energy generation capacity of 80 megawatts, it is located in the Province of San Juan. For its execution, the Bank allocated financing for a total amount of US$ 130.0 million
Construction of a 50-kilometer gas pipeline in San Pedro de Macorís
Loan in favor of AES Dominicana for a total amount of US$54.00 million.
Montegrande Multipurpose Dam Project Phase III
With current financing of US$249.6 million
CABEI emphasizes support for investment projects in the Dominican Republic
The multilateral has participated in multiple initiatives in the country in the areas of mobility, infrastructure and sustainability.
Santo Domingo, March 25th, 2022. – A delegation from the Central American Bank for Economic Integration (CABEI) visited the Dominican Republic this week to follow up on operations currently underway in the country and future initiatives that could be supported technically and financially.
As part of the work agenda, the Bank's Executive President, Dr. Dante Mossi met with the President and Vice President of the Dominican Republic, Luis Abinader and Raquel Peña, as well as with the Minister of the Presidency, Lisandro Macarrulla, to discuss important issues related to the 2021-2026 Country Strategy approved in October and the steps to be taken to continue supporting the nation in the development of the productive sectors.
"The Dominican Republic has been one of the most dynamic economies in the region over the last decade, with a high growth rate, which is why it is essential to hear first-hand about the development opportunities and challenges that we, as a multilateral, can support. CABEI, as the region's financial arm, will continue to support the formulation and implementation of projects to improve the quality of life of Dominicans," said Mossi on Thursday.
Hostos Rizik, CABEI Director for the Dominican Republic, commented that "this series of activities reflects the Bank's interest in supporting the economic and social integration of its member countries."
An important part of this tour were the conversations with representatives of the Korean-Dominican Chamber of Commerce and the Executive President of the Korea Export Import Bank (KEXIM), Bang Moon-Kyu, both of which sought to identify opportunities to leverage resources through new cooperating partners and the private sector. The CABEI delegation included the Director for the Republic of Korea, Dongjoon Kim.
After the bilateral meetings with government authorities, the mission visited sites of interest that included a tour from the Domingo Savio sector to the Bus Corridor, including the Santo Domingo Metro. The tour ended with a meeting in the border area of Los Pedernales.
From 2007 to date, CABEI has consolidated its presence in the Dominican Republic by financing programs and projects that contribute to the sustainability of economic growth and the strengthening of social inclusion and environmental sustainability. In addition, it maintains active operations of great importance in the country in sectors such as science, innovation, infrastructure, agriculture, tourism and MSMEs, which have benefited more than 6 million Dominicans with investment capital totaling more than US$1.1 billion.
