The executive president of Development Bank of Latin America and the Caribbean (CAF), Sergio Diaz-Granadosand the vice president of the Republic, Raquel Penainaugurated the organization’s new offices in Santo Domingo, a milestone that reinforces the presence of the institution in the country and enhances its capacity to promote initiatives of development sustainable and inclusive.
During the event, Díaz-Granados also presented the Government with the Country Strategy 2024-2028the roadmap that will guide the entity’s cooperation with the Dominican Republic over the next four years.
The strategy is aligned with national priorities to strengthen competitiveness, improve quality of life and move towards a development more resilient against climate change. Its purpose is to close historical gaps, expand opportunities and accompany the country in a productive transformation that benefits the entire population, according to a press release from the CAF.
“With this Country Strategy and the opening of our offices, CAF strengthens its presence in the Dominican Republic and reaffirms its commitment to accompanying the country to boost its growth and competitiveness in key sectors such as energy, digital transformation, tourism and logistics,” said the executive of CAF.
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The roadmap is structured into three priority areas:
Inclusive human development, through strengthening the health system, educational modernization and the expansion of essential services.
Growth and Competitiveness, with actions to boost the digital, energy, tourism, logistics and financial sectors.
Social, territorial and climate resilience, supported by investments in water security, renewable energy, resilient infrastructure and transition to a low-carbon economy.
The bank explained that these three areas are articulated from a territorial vision that recognizes the inequalities between regions and integrates the transversal areas of:environmental and climate commitment, promotion of gender equity, inclusion and diversity and institutional strengthening.
“This vision fully coincides with the transformation program that we are promoting from the Government, under the leadership of President Luis Abinader. Improving the quality of life, closing historical gaps and moving towards a more just and modern Dominican Republic is our daily mission. In that sense, this support comes at a crucial moment”Vice President of the Republic
The mayor of the National District, Carolina Mejía, also participated in the event; the minister of Foreign RelationsRoberto Álvarez; the Minister of Industry, Commerce and MSMEs, Víctor -Ito- Bisonó, and the representative of CAF in the country, Daniel Cabrales.
Commitment
Dominican Republic joined CAF in 2004 and in 2021 it increased its capital to become a full member. The commitment of CAF with the country is reflected in high-impact initiatives, among which are climate action programs, the rehabilitation of networks and reduction of electrical losses, the Alto Mao Irrigation System (one of the most modern in the region) and water and sanitation projects that strengthen the quality and coverage of the service in Santo Domingo.
In parallel, CAF has supported the private sector through lines of credit with BANDEX, BHD Bank and BanReservas, focused on MSMEs, companies led by women and strategic sectors such as agribusiness, manufacturing, renewable energy and sustainable tourism.
