CABEI reaffirms confidence in Dominican economy through initiative that will create jobs and boost the energy sector
The operation will benefit a total of 10.4 million people nationwide.
Tegucigalpa, July 27, 2021.- In order to support the Dominican Republic in its economic recovery through the generation of jobs, as well as in its sustainable development and the fight against climate change, the Central American Bank For Economic Integration(CABEI), approved a US$350 million Development Policy Operations Program (OPD) for the benefit of 10,448,499 people.
The financing will protect the human capital derived from the COVID-19 crisis and support economic and inclusive reactivation through the creation of more than 50,000 profiles on the EmpléateYa Employment Bank platform program, which will facilitate the search for job opportunities for Dominicans.
These fast-disbursing resources will also support the reform of the energy sector through the implementation of actions to enable the efficient and low-carbon expansion of generation, transmission and distribution systems, as well as to advance in the evolution of the tariff regime and the charging network for electromobility, among others.
"The confidence in the Dominican economy through this operation reaffirms our commitment to developing measures to protect human capital and the effective implementation of the Electricity Pact, which will be one of the starting points for establishing a sustainable and inclusive economy in a post-pandemic stage," said CABEI Executive President, Dr. Dante Mossi.
Since 2020, the Dominican Government has taken important actions both in improving the efficiency of the electricity subsector, as well as in the economic and labor dynamization of the country with the implementation of programs to help workers, the strengthening of gender-transformative measures and the promotion of e-government.
Among the availability of these resources is the contribution of US$50 million thanks to the Republic of Korea through external resources administered by CABEI, destined to support the transition of the energy sector in the face of climate change.