The Dominican Republic only has 20 trusts, while in Ecuador there are 873 public trusts; in Mexico 589; in Colombia 258 and in Panama 103
“The use of the figure of the public trust is not an atypical case or of exclusive implementation of the Dominican Republic. It is a figure widely used in the world, and in particular in Latin America and the Caribbean by the governmentsfor decades,” said Samuel Pereyra, general administrator of Banco de Reservas, yesterday at the seminar Public Trust: International experiences for the development of public policies in the Dominican Republic.
He explained that, according to data from the Latin American Federation of Banks (Felaban), in Ecuador there are 873 public trusts; in Mexico 589; in Colombia 258; in Panama 103; in Guatemala 77; in Honduras 63 and Peru 23; Meanwhile in Dominican Republic there are only 20.
Pereyra highlighted the success of the use of the trust tool for mobility and transport, with the case of Fimovit and the financing of the new routes on Núñez de Cáceres, Winston Churchill and Charles de Gaulle avenues; and RD-Vial to promote the construction and maintenance of highways.
Likewise, those of Ciudad Juan Bosch and Mi Vivienda with the financing of loans to developers and buyers, making the dream of thousands of Dominican families of having their own roof come true.
The event included the participation of experts Jorge Porras Zamora, from Costa Rica; Marcial Luján, from Mexico, and Juan Carlos Peralvo Molina, from Ecuador.
In his speech, the Minister of the Presidency, Joel Santos, said that last year the investment was 30 percent of the Gross Domestic Product (GDP).
Santos highlighted that with the Trusts for the Development of the Mass Transportation System of the country (FITRAM), which includes the Los Alcarrizos Cable Car and the Santiago, the Santiago monorail, together there are more than RD$70 billion.
He highlighted the importance of trusts because, according to what he said, they give greater transparency, since some funds are specialized and these are only for what the trustee was instructed.
In addition, the projects are better financially structured, determining the term and payments that are necessary. The debt is also public and it is not sovereign debt, but the very structure of the funds is the guarantor of it.
He stated that many errors would have been avoided in the Dominican Republic with a public trust.
