CABEI formalizes initiative for the Dominican Republic's economic recovery


During CABEI Executive President Dante Mossi's official visit, a US$350 million agreement was signed to generate jobs and promote renewable energies.

Santo Domingo, August 9, 2021. – As part of his official visit to the Dominican Republic on Monday, the Executive President of the Central American Bank for Economic Integration (CABEI), Dr. Dante Mossi, formalized the US$350 million Development Policy Operations Program (DPO) for the benefit of 10.5 million inhabitants.

The fast-disbursing resources will support the country's economic recovery by generating employment, promoting sustainable development and combating climate change through energy sector reform. At the meeting between Mossi and the Minister of Finance and Public Credit, José Manuel Vicente, the Bank's VIII Capital Increase from US$5 billion to US$7 billion was also subscribed.

"We are very pleased to have formalized these contracts that will benefit the country's productive sectors, as well as the capital increase made by the government, which reinforces confidence in our Bank as the means to achieve regional integration," said Mossi.

Subsequently, a US$1.6 million contingent cooperation agreement was signed with the Dominican Port Authority to finance the technical and financial feasibility studies for the integral development of Port Haina.

During his official tour, Mossi took the opportunity to meet with the President of the Republic, Luis Abinader, to whom he reaffirmed CABEI's commitment to continue supporting programs and projects that promote the country's competitiveness in order to ensure its population' quality of life.

The CABEI delegation was composed of the Dominican Republic, Korea and El Salvador directors to CABEI, Hostos Rizik, Dongjoon Kim and Luis Rodríguez Villacorta respectively, as well as the official country head Manuel Ogando.