Undersecretary Sherman announces US$6 million grant

The money will help attract direct investment in the industrial sector, which will contribute to secure and resilient supply chains, in addition to supporting economic development in the northwest region of the country.

On the other hand, in the meeting that Sherman held with some officials of the Abinader government, it was informed that the US nation will donate US$6 million to strengthen the capacities of the Dominican Republic.

A press release indicates that the money will help attract direct investment in the industrial sector, which will contribute to secure and resilient supply chains, in addition to supporting economic development in the northwest region of the country.

Sherman indicated that the United States, through its Agency for International Development (USAID), will provide technical assistance in business planning and analysis to identify supply chains that will sustain and increase local production in the communities that comprise the Santiago-Manzanillo corridor.

“This effort will complement existing U.S. assistance for the rehabilitation of the Port of Manzanillo,” she explained, quoted by a press release from the U.S. Embassy.

She maintained that this support is aimed at boosting “economic growth and generating new jobs” of quality in the Dominican Republic. It will also support the Biden-Harris Administration’s commitment to work with partners and allies to develop secure and resilient supply chains in critical sectors and areas.

He stated that the United States is proud to work closely with the government and people of the Dominican Republic, a close partner of that nation in the region, to advance these initiatives. “In addition, this commitment will further strengthen the Alliance for Development in Democracy, an alliance among the Dominican Republic, Ecuador, Panama and Costa Rica to address the needs of their citizens, promote regional trade and investment, and strengthen the relationship between their governments and the private sector to stimulate economic growth,” they explained in the communication.

At the meeting with the undersecretary of state were Foreign Minister Roberto Alvarez; Minister of the Presidency Joel Santos; Minister of Economy, Planning and Development Pavel Isa; and Minister of Industry and Commerce Victor (Ito) Bisonó.

Source: Listindiario.com

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