CABEI strengthens its commitment to the Dominican Republic at the inauguration of President Luis Abinader

Santo Domingo, August 16, 2024. -Reaffirming CABEI's commitment to the sustainable development of its member countries, CABEI Executive President Gisela Sánchez, CABEI Director for the Dominican Republic Hostos Rizik, and representatives of the institution attended the inauguration of Luis Abinader, who begins his second term as President of the Dominican Republic. This event underscores the strengthening of bilateral relationships between CABEI and the Caribbean nation, highlighting the Bank's essential role in promoting initiatives that generate a positive impact in the region.

Since its incorporation in 2007, CABEI has provided the country with US$2.712 billion in financing, which has enabled the execution of key projects in areas such as the construction of modern infrastructure, the development of the tourism sector, the generation of sustainable energy, and the promotion of the micro-, small-, and medium-sized enterprises (MSMEs) sector.

"The Dominican Republic is a strategic partner for CABEI, and we are committed to accompanying the country in its vision of development and wellbeing for all its citizens. We will continue to be a key ally in the implementation of projects and programs that generate a positive impact on the economy, the environment, and Dominican society," said CABEI Executive President Gisela Sánchez.

Hostos Rizik, CABEI country director for the Dominican Republic, stated "Our commitment is to support the economic, social, and environmental development of the country through projects that improve the quality of life of our communities. This continued support from CABEI to the Dominican Republic translates into new opportunities that foster the growth and well-being of Dominicans."

With outstanding economic growth, the Dominican Republic has positioned itself as one of the most dynamic economies in the region, achieving historic advances in exports, attracting foreign direct investment and tourist flows, as well as consolidating its position as a leading logistics hub in Latin America and the Caribbean.

During her visit, President Sanchez also held meetings with Dominican government officials to explore new initiatives to further strengthen the ties and cooperations between the two countries.

CABEI remains committed to continue working for the development of the countries we serve in order to generate opportunities that raise the quality of life of their citizens and promote a more prosperous and just future for the entire region.