President of the IDB says the DR is a development model to follow
Punta Cana. The president of the Inter-American Development Bank (IDB), Ilan Goldfajn, described the Dominican Republic as a development model to follow.
He highlighted its “remarkable economic growth, above the average for the region,” which he attributed mainly to sound economic policies, the promotion of investment and the growth of the private sector.
He added that the country is now hosting a series of historic meetings to address common challenges like climate change, food security, poverty reduction, education improvement, clean energy generation, and biodiversity protection.
President Luis Abinader highlighted the IDB as a key ally for Latin American and Caribbean countries to strategically tackle these common challenges quickly and safely.
“The IDB Group creates innovative products to help us access funds under better conditions,” he said.
President Abinader mentioned that thanks to financial and technical support in infrastructure, energy, transportation, education, health, and institutional strengthening, they have improved their people’s quality of life.
He also mentioned that partnerships create opportunities like potential for commercial integration and logistics efficiency, with the Dominican Republic’s strategic location giving it a competitive edge as a regional logistics hub.
“One recent joint initiative with the IDB is the rehabilitation of the port of Manzanillo, which will boost exports, foreign investment, job creation, and the logistics sector.”
The IDB’s transformative axes
To address challenges, Goldfajn stated that the IDB Group proposes three transformational changes: a new Institutional Strategy to increase the impact and scale of their work, a new vision and business model for IDB Invest and IDB Lab to increase their investment power.
Pro Tempore Presidency
Finance Minister Jochi Vicente took over the pro tempore presidency of the Meetings of the Assemblies of Governors of the IDB and IDB Invest, within the organization’s meetings in Punta Cana.
Vicente expressed gratitude for the IDB Group’s financial and technical support to Latin American and Caribbean nations for better social and economic stability and institution strengthening.
“The IDB is our largest source of resources among official international creditors, providing 44% of multilateral financing,” the minister concluded.