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Dominican Republic: Abinader has pledged US$3.0B+ in investments


Santo Domingo.- President Luis Abinader has promised investments that exceed RD$113.5 billion (US$3.0 billion) in the 86 days of his administration, which was assumed on August 16.

The president has visited 12 provinces to verify damages, the services that work with precariousness and to announce large-scale projects such as the tourism in the province of Pedernales, as well as the “Dominicana rebuild” program, with which he proposes to rebuild 30,000 homes to a cost of RD$1.9 billion.

San Cristóbal, La Vega, Santo Domingo, Pedernales, El Seibo, Montecristi, Santiago, Samaná, San Pedro de Macorís, Puerto Plata, Punta Cana and Barahona, are the provinces visited so far by the president, with the main objective of recovery economic and health of the country due to the Covid-19 crisis.

In order to obtain the resources to avoid the collapse of the economy, Abinader used the approval of a complementary budget of RD$202.02 billion; a loan of US$500 million from the Inter-American Development Bank (IDB) and the issuance of sovereign bonds for US$3.8 billion, the largest in the country’s history.

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