World Bank support to the country includes six projects for US $ 493 million

The Minister of Economy, Planning and Development, Miguel Ceara Hatton and the vice president of world Bank for Latin America and the Caribbean, Carlos Felipe Jaramillo spoke today about the support offered by the agency for the country to advance in priority areas, beyond post-pandemic recovery.

The World Bank’s financing agenda in the country includes six projects for a total of US $ 493 million in commitments, among which drinking water and sanitation stand out.

The loan portfolio of this intentional agency is complemented with analytical and advisory work, con recent works that include an analysis of public spending on social protection and water, a diagnosis of the labor market and an analysis of investments in infrastructure.

At the meeting, at the headquarters of the Ministry of Economy, Planning and Development, Jaramillo was accompanied by high-level local executives and the representative of the organization in the country, Alexandria Valerio. Minister Ceara Hatton was accompanied by the vice ministers and the vice minister of the Ministry of Economy.

This meeting focused on the World Bank’s contribution to help rethink the future of the Dominican Republic and how to support the strategic reforms introduced by the Government Dominican Republic at this special juncture, to benefit current and future generations with more economic opportunities and prosperity.

It was reported that the World Bank in the country has supported the response to the pandemic quickly and effectively. They cited that in March 2020, the financial agency disbursed US $ 150 million from a contingent credit line (Operation CAT DDO) to support the government’s response to COVID-19, while in December of the same year, US $ 100 million of emergency budget support was disbursed in response to the pandemic.

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These financings were activated by the Government to quickly finance part of its recovery efforts, which consisted mainly of attending the health emergency, as well as important social protection measures (cash transfers through expanded safety nets) and support measures from the private sector (through payroll support) among others.

The agency’s funding has focused in recent years on territorial development, strengthening consumer protection systems, credit for women, social protection and employment, poverty and equity, and advice to improve the country’s productivity.

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