CABEI Ratifies Agreement with Dominican Republic for representation in the country


The agreement contemplates legal aspects for the operation of the new CABEI office in the country.

Santo Domingo, December 16th, 2020.- The Central American Bank for Economic Integration (CABEI) signed with the Government of the Dominican Republic the agreement for the establishment of the Bank's representative office in the country.

The agreement was signed in an official ceremony at the Ministry of Foreign Affairs of the Dominican Republic by Minister Roberto Alvarez and the executive Vice President of CABEI, Jaime Diaz. In addition, CABEI's Director for the Dominican Republic, Hostos Rizik was present.

Vice President Diaz explained that the agreement establishes the legal framework for the operation of the new Bank office and in essence includes the privileges, exemptions, and immunities that the Bank and its personnel will have in Dominican territory.

"Today is a historic day by signing this agreement because it seeks to play an active role in promoting economic and social integration in the region; as well as facilitating cooperation between the countries of the region and the Caribbean".

Vice President Diaz reminded that the opening of this CABEI office in Santo Domingo is another one of the multilateral’s strategic steps to make businessmen and investors, different financing modalities, and financial instruments for actions oriented to the development of the country available to the Government, he concluded.