Santo Domingo.- The Inter-American Development Bank (IDB) aims to finance several projects with US$1.5 billion during the next three years, or around US$382 million each year.
The credit, with State guarantee forms part of its 2013-2016 work strategy, which focused on productive development to promote productivity and business competitiveness; investment in human capital in sectors such as health, education and social protection, and macroeconomic stability and fiscal management, to spur sustainable economic growth.
IDB representative Flora Montealegre on Thursday said the projected funding will be the IDB’s participation to keep the country’s multilateral debt at an average of 53% during that period, while the debt with the IDB as a percentage of GDP would be around 3.9%.
She stressed that the IDB’s strategy seeks to achieve the country’s economic development and impacts all sectors, with the creation of quality jobs and less poverty.
In a press conference, Montealegre said productive development and competitiveness will have a multi-sectoral approach, focused on the provinces, with support to improve productivity of SMEs, with easier access to financing, promoting export development and bolster that sector’s agencies.