SANTO DOMINGO – U.S. International Development Finance Corporation (DFC) Chief Executive Officer Adam Boehler today joined Dominican President Luis Abinader to sign a memorandum of understanding (MOU) between the U.S. and the Dominican Republic seeking to collaborate to mobilize investments in energy, tourism and other infrastructure projects that will strengthen key industries, create jobs, and bolster the local economy.
The MOU advances the America Crece program, a whole of U.S. Government initiative to promote growth throughout Latin America and the Caribbean by mobilizing investments in energy and infrastructure.
“This agreement underscores the strong U.S. commitment to the Dominican Republic and the essential role of investment in advancing our shared goals,” said Boehler. “DFC is proud to support this agreement by offering our financing tools to help mobilize needed investment at a time when the COVID-19 pandemic has impacted tourism and other industries.”
Under the agreement, the United States and the Dominican Republic will work to identify priority projects and the financing needed to move them forward; encourage innovation and sustainability by strengthening local regulatory frameworks; promote awareness within the U.S. private sector of local development projects; and explore ways to support these projects with financing, insurance, and technical assistance. The two countries will also collaborate to promote strong development outcomes from these projects, including women’s economic empowerment, to increase stability and prosperity in the Dominican Republic.
As America’s development bank, DFC serves as a key partner in the America Crece initiative by mobilizing private investment. DFC currently has $15.6 million invested in the Dominican Republic in projects that are supporting microfinance lending to women and other underserved communities.
U.S. International Development Finance Corporation (DFC) is America’s development bank. DFC partners with the private sector to finance solutions to the most critical challenges facing the developing world today. We invest across sectors including energy, healthcare, critical infrastructure, and technology. DFC also provides financing for small businesses and women entrepreneurs in order to create jobs in emerging markets. DFC investments adhere to high standards and respect the environment, human rights, and worker rights.