Luxembourg.- A Dominican Government delegation visited the European Investment Bank offices in Luxembourg today to discuss ongoing projects, and after high level talks it was agreed to reinforce the future commitment of the European Union’s long term financing in the Caribbean nation.

The conversations were held with Plutarchos Sakellaris, European Investment Bank Vice president responsible for the Caribbean, and the Dominican delegation headed by Economy minister Temistocles Montas, accompanied by other officials in Brussels and Dominican Exporter Association President Kai Schoenhals.

In the conversations special attention was placed on the possible future of the EIB’s support for renewable energy projects, power lines, as well as the microfinance and credit operations for the SME, working with the country’s major financial institutions. Also discussed was the EIB’s financing role as part of the National Development Strategy.

“The European Investment Bank is a strong partner who supports the long term economic development in the Dominican Republic. We hope to participate in major renewable energy projects to continue to support the private sector through microcredit to small industrialists as well as to facilitate credit to the SMEs through intermediary banks,” Sakellaris said.

For Montas, the construction of energy infrastructure is key for his country’s economic development. “We welcome with satisfaction the valuable data obtained in today’s conversations and hope to work closely with the European Investment EIB to improve long term energy infrastructure and Dominican Republic’s economic development.”

Sakellaris visited Dominican Republic in November to discuss the EIB’s support for projects with the local ministers and leading figures in business and finance. He also visited projects financed by the Bank in the last five years, contributing US$383 million for the Caribbean and coordinated through the EIB regional office in Martinique.