Thursday, June 1, 2023

CABEI has financed projects in the Dominican Republic for more than US$1,000 million

He Central American Bank for Economic Integration (CABEI) has financed in Dominican Republic projects for more than US$1,000 million, reported the head of the agency, Dante Mossi, on the eve of the LXIII Ordinary Meeting of the Board of Governors to be held this Friday in that country.

The largest project financed by CABEI in the south of the Caribbean country is the Monte Grande multipurpose dam, with a curtain of almost two kilometers, to provide water to very arid communities, as well as to mitigate floods and facilitate the irrigation of agricultural crops and the development of the area, Mossi told EFE.

He added that dams like the one that is about to be completed in the Dominican Republic are being replicated in Honduras as a way of innovating in the creation of artificial water deposits throughout the region to manage water resources.

As in Central America, in the Dominican Republic, CABEI has also been financing other projects, such as highways, one of which is in its first phase, with an investment of close to US$400 million.

“The most important highways in the Dominican Republic have been financed by CABEI, but we are also seeing water and sanitation projects, development of ports and highways with tunnels,” Mossi stressed.

The regional financial organization is also promoting a tourism growth project in the Dominican Republic that will have an investment of close to US$1,000 million and is working on coastal development and a electric railway between the two most important cities in the country.

In addition, pending line 12 of the Santo Domingo metro, the capital of the Caribbean nation, and other projects, expressed the head of CABEI.

The fact of having an office in the Dominican Republic has allowed the government authorities to have the support of CABEI in the processes in the definition of priorities and in decision-making, with which there has been “fluid communication,” said Mossi. .

He also said that the institution has yet to open an office in belize and is considering another one in Washington, considering that USA is the closest business partner you have Central America, and an innovation center in Mexico.

“The bank continues to work, it continues to get closer to its member countries, the donors who support us and the beneficiaries who need us,” he added.


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