Dominican government and the United States sign agreement to boost investments in the DR
The executive director of the United States Finance Corporation for International Development (DFC) Adam Boehler, met with Dominican President Luis Abinader to sign a memorandum of understanding between the United States and the Republic Dominican Republic in order to collaborate in the mobilization of investments in energy, tourism, and other infrastructure projects.
These aim to strengthen the main industries, create jobs, and support the local economy, according to a press release published by the Embassy of the States United in the Dominican Republic.
The Memorandum of Understanding fosters the “America Crece” program, an initiative of the United States Government to promote growth throughout Latin America and the Caribbean by mobilizing investments in energy and infrastructure.
“This agreement highlights the strong commitment of the United States to the Dominican Republic and the essential role of investment in advancing our shared goals,” said Boehler.
“The Finance Corporation for International Development is proud to support this agreement by offering our financing tools to help mobilize the investment needed at a time when the COVID-19 pandemic has impacted tourism and other industries,” he argued.
Under the agreement, the United States and the Dominican Republic will work to identify priority projects and the financing necessary to carry them forward; encourage innovation and sustainability by strengthening local regulatory frameworks; promote awareness of local development projects in the private sector of the United States.
Also, explore ways to support these projects with financing, insurance, and technical assistance.
The two countries will also collaborate to promote strong development results from these projects, including the economic empowerment of women to increase the stability and prosperity of the Dominican Republic.
As the United States development bank, the Finance Corporation for International Development is a key partner in the America Crece initiative by mobilizing private investment.
The Finance Corporation for International Development currently has 15.6 million dollars invested in the Dominican Republic in projects that support microfinance loans to women and other disadvantaged communities.