CABEI Executive President, Gisela Sánchez, acknowledges the dynamism of the Dominican Republic's economy

Santo Domingo, March 6, 2024 - The Executive President of the Central American Bank for Economic Integration (CABEI), Gisela Sánchez, made her first strategic visit to the Dominican Republic during which she met with the President of the Dominican Republic, Luis Abinader, with the purpose of consolidating the multilateral's actions in the country and promoting sustainable development in the region.

During the meeting they highlighted the recent economic achievements of the Dominican Republic, where the economy has grown, in real terms, at an annual average of 6.43%, from 2021 to 2023, the Gross Domestic Product increased from US$78,923 in 2020 to US$120,629 in 2023, the per capita income from US$8,583 dollars in 2019 to US$11,156 dollars in 2023, which represents an increase of 30%, indicators that show a remarkable economic strength.

In addition, it was noted that the country's reserves are at an all-time record of US$15.457 billion dollars, also highlighting the level of confidence in foreign direct investment which exceeds US$4.381 billion, showing an increase over the previous year. Furthermore, the reduction of 2% in the consolidated public sector debt from 2020 to date was also highlighted.

In her speech, President Sánchez expressed to President Abinader that this visit reaffirms CABEI's commitment to continue working to promote prosperity, social and economic development in the Dominican Republic, underscoring the importance of cooperation to promote positive changes in the region.

CABEI Director for the Dominican Republic, Hostos Rizik, highlighted ''CABEI is proud to support the actions of the Dominican government in favor of the sustainable development of the country, which translates into quality of life for all its inhabitants.

The country became a CABEI Non-Founding Regional Member in 2007 and since then the institution has consolidated its presence in the country by financing programs and projects that contribute to the sustainability of economic growth and the strengthening of social inclusion and environmental sustainability.

CABEI projects include the Montegrande Dam Phase III, the Palomino hydroelectric project, the Coral highway, the construction of the 50 km gas pipeline in San Pedro de Macorís, the increase of the Eastern Road Corridor, among others.