CABEI contributes to efforts to boost the Dominican Republic's economy
Santo Domingo, August 6th, 2023.-In response to the Government of the Dominican Republic's commitment to increase capital spending by 2.8% to boost the economy through investment projects, the Central American Bank for Economic Integration (CABEI) is proud to be part of these crucial efforts for the country's development. Over the past three and a half years, CABEI has actively supported the Dominican Republic, approving a total of 10 operations for a cumulative amount of US$1,928.23 million, including projects such as the construction of the Complementary Irrigation and Water Supply Works for the Montegrande Dam; Line 2-C of the Santo Domingo subway; Development Policy operations in the areas of climate change actions, the energy sector and post-COVID-19 economic reactivation; the strengthening of financing for the agricultural sector through the Agricultural Bank; the Temporary Support Program in the face of rising fuel prices; the Eco-housing Construction Program; the Ambulance Acquisition Program to supply the country's health system; and the Dominican Republic's Road Infrastructure Connectivity and Transformation Plan.
These operations and projects aim to generate significant impacts on Dominican society. Expected results include benefiting more than 659,830 users of the country's road network through the construction and improvement of 102.2 km of highways; reducing fuel costs for more than 3,421,225 beneficiaries (66.7% of the vehicle fleet) through the implementation of subsidy measures; providing care to 529,020 patients annually through the acquisition and equipping of 200 ambulances; and providing care to 529,020 patients annually through the acquisition and equipping of 200 ambulances.7% of the vehicle fleet) through the implementation of subsidy measures; provide care to 529,020 patients annually through the acquisition and equipment of 200 ambulances; benefit 3,300 families through the construction of eco-housing; provide access to financing and technical assistance to 13,561 producers in the agricultural sector; offer financing to 185 MSMEs and 750 legal entities; and promote the implementation of 35 policies, initiatives and agreements through Development Policy Operations (DPOs) focused on climate change, the energy sector and economic reactivation. This will make possible the generation of approximately 13,900 jobs and the preservation of 9,577 current jobs.
In addition, CABEI has promoted the development of the Dominican Republic through cooperation. In the last three years CABEI has approved approximately US$19.45 million in cooperation. This includes cooperation of great importance such as : Emergency Aid for Tropical Storm Laura, Feasibility Studies for the Integral Development of the Port of Haina, Preparation of Studies and Final Designs for the complementary works of the Montegrande Dam, Donation of KF-94 Masks, Technical Advisory and Preparation of H&S Studies for the Santo Domingo Metro Line 2C Metro Line Construction Project, Preliminary Design and Bidding and Tender Bases for Segment A of the PLANACOVIAL, Development of Initiatives to Promote Electric Mobility in Central America and the Dominican Republic, and most recently, Cooperation with the Dominican Republic for the project for the Treatment of Hearing Deficiency due to Profound Deafness for U$1.1 million.
CABEI is proud to collaborate with the Dominican Republic on its path to prosperous and sustainable development, reaffirming its commitment to be a strategic ally in the country's economic and social growth.