These two multilateral organizations, together with the Central American Bank for Economic Integration (CABEI), have resources to finance the private sector
The representatives in the country of Inter-American Development Bank (IDB) and the World Bank They affirmed that the Dominican private sector must invest in projects that respond to the Sustainable Development Goals (SDG) and the main needs of the country, such as renewable energies; water and sanitation solutions; efficient transport and new and modern public infrastructures.
Katharina Falkner-Olmedo and Alexandria Valerio, respectively, agreed to highlight the important role that business plays by investing in the challenges facing the Dominican Republic, during their interventions in a panel within the framework of the “Spain-Dominican Republic Business Meeting. A vision of multilateral financing”.
They also stated that these two multilateral organizations have resources to finance the private sector in key areas for the country. The same was expressed by the country head of the Central American Bank for Economic Integration (CABEI), Manuel Ogando.
Valerio explained that in the 2022-2026 Country Alliance Framework (MAP), the entity plans to finance the country with up to US$1.8 billion to support the Dominican government’s efforts to improve access to services, increase quality jobs and social protection, as well as vital infrastructure and boost resilience to climate change.
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He said that they have confidence in what the government is doing to promote reforms and improvements in the public sector.
He explained the importance of collaborating and working together with the private sector and improving the climate of trust to continue attracting investment.
Falkner-Olmedo indicated that the IDB has a portfolio of 18 operations for a total of US$1.5 billion and is also working with the government on a program of six operations for an additional US$900 million. He said this is the portfolio to run in the next five years.
He added that in the next 12 months they will finance 200 bidding processes for a total of US$400 million. “These projects are focused on renewable energy, transportation, logistics, connectivity, digitization, water and sanitation, solid waste management, with a focus on sustainability and development for all.”
“The public and private sectors do not advance without the other. The public sector is the one that must articulate the rules of the game, but the private sector is needed in the dialogue so that this ecosystem really allows sustainable investment”, he explained.
While Ogando, from CABEI, said that they focus on supporting projects in three key areas: improving the quality of life and human development; productivity and competitiveness and equity and sustainability until 2026 with financing of more than US$1.8 billion, prioritizing the agricultural sector, transportation and infrastructure, housing and water and sanitation.
“For us, the private sector is essential and a priority for our operations and for this reason we have lines of credit in the main banks of the country with special rates, and to support MSMEs we have resources through the Bandex so that they can export,” he said.
