Dominican Republic becomes a full member of CAF
The signing of the agreement will allow the Dominican State to have access to long-term financial resources, as well as the transformation planned to achieve the objectives of the 2030 agenda
The Executive President of the Development Bank of Latin America (CAF), Sergio Díaz-Granados, and the Minister of Finance of the Dominican Republic, Jochi Vicente, have signed an agreement for the incorporation of the country as a full member of the multilateral organization. The objectives of this movement are to promote the well-being of the population, the sustainable development of the country and the progress of the Caribbean.
With the signing of this agreement, the Dominican State will have greater voting power in the governance of the institution, access to more long-term financial resources and non-reimbursable cooperation funds as a mechanism to accompany public policy decisions. “With this decision we seek to have a full presence in this important body, which offers many benefits for the country such as technical assistance and financing under favorable conditions for investment projects that we have identified as priorities,” said the Minister of Finance of the Republic. Dominican.
For his part, Sergio Díaz-Granados has highlighted that the signing of the agreement is a great step that means “a consolidation in the Caribbean, which will imply that CAF will be able from the Dominican Republic to address strategic issues for the rest of the region and in this way it fulfills the purpose of internationalization that it has.” He added that the greatest interest is for CAF to partner the Dominican Republic in its commitment to transformation and to achieving the objectives of the 2030 agenda for sustainable development.
The Dominican Republic joined CAF as a Series ‘C’ shareholder in 2004. Since then, the institution has promoted various initiatives and projects aimed at collaborating with national development plans, the most recent being the Aqueduct Expansion Project Oriental, Salinity Barrier and Transfer to Santo Domingo Norte, to be executed by the Santo Domingo Aqueduct and Sewerage Corporation (CAASD), as well as the delivery of non-reimbursable resources for the Emergency Support Program generated by Covid-19.
Currently, the institution also supports with technical assistance the General Directorate of Public-Private Partnerships (DGAPP) and the Santo Domingo Aqueduct and Sewerage Corporation (CAASD) for the strengthening of their capacities and the structuring of projects.
With the progressive incorporation of Caribbean countries into the institution, CAF will continue to promote Latin American integration, as well as the sustainability and transparency it guarantees in the execution of economic and social infrastructure projects in its member countries.
Source: dpa
