For the benefit of more than 3 million Dominicans, CABEI makes resources available to mitigate the effects of high fuel costs

Santo Domingo, August 16th, 2022 - With the objective of mitigating the immediate effects of high fuel prices on end consumers and producers, the Central American Bank for Economic Integration (CABEI) approved an increase in its "Temporary Support Program for the Fuel Crisis" and US$200.0 million in financing for the Dominican Republic.

This initiative seeks to support the Dominican population by mitigating the effects of the fuel hike, which contributes to improve their quality of life by providing relief and growth opportunities. It also makes it possible to improve consumption and investment related to the country's development.

"CABEI supports our member countries by providing rapid responses to the circumstances we are currently experiencing. This operation has a direct impact on the economy of millions of Dominicans, generating savings that translate into improvements in their quality of life," said CABEI Executive President, Dr. Dante Mossi.

The resources are part of the "Temporary Support Program for the Fuel Crisis", recently launched by the multilateral organization, for the authorities of the region in the implementation of policies and temporary measures to stabilize fuel prices.

This operation is part of CABEI's 2020-2024 Institutional Strategy in the Sustainable Competitiveness axis that seeks to intervene in strengthening the economic, social and institutional factors that determine the region's competitiveness.