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,” largely attributed to sound economic policies, promotion of investment, and growth of the private sector.
The country now hosts a series of historic meetings to help the region overcome common challenges such as climate change, food security, poverty reduction, education improvement, clean energy generation, biodiversity protection, among others.
President Luis Abinader classified the IDB as a fundamental ally for Latin America and the Caribbean countries to strategically face these common challenges, faster and safer.
“The IDB Group is a fundamental actor, creating innovative products that allow accessing funds under better conditions.” The president stated they raised the quality of life of their people thanks to the financial and technical support received in infrastructure, energy, transportation, education, health, and institutional strengthening.
He also mentioned that these alliances generate opportunities like potential for commercial integration and logistics efficiency. The Dominican Republic has a competitive advantage due to its geographical location to become a regional logistics hub.
“One of the most recent joint initiatives with the IDB is the rehabilitation of the port of Manzanillo to boost exports, foreign investment, job creation, and the logistics sector.”
IDB transforming axes
To overcome challenges, Goldfajn indicated that the IDB Group proposes three transformative changes: a new Institutional Strategy to increase impact and scale of work, and a new vision and business model for IDB Invest and IDB Lab to increase investment power.
Presidency for the moment
The Minister of Finance, Jochi Vicente, assumed the pro tempore presidency of the Meetings of the Assemblies of Governors of the Inter-American Development Bank (IDB) and the Inter-American Investment Corporation (IDB Invest). This happened during the organization’s meetings held in Punta Cana since mid-week.
Vicente thanked the financial and technical support provided by the IDB Group to Latin American and Caribbean nations for social and economic stability, fiscal sustainability, and institutional strengthening.
“In the case of the Dominican Republic, it is our largest source of resources among official international creditors (the IDB), providing 44% of multilateral financing,” the minister concluded.
