World Bank Vice President begins official visit to Dominican Republic on Monday; today will meet with President Luis Abinader

The World Bank’s Vice President for Latin America and the Caribbean, Carlos Felipe Jaramillo, begins a two-day official visit to the Dominican Republic on Monday 25 to meet with national authorities and discuss development prospects.

They will also discuss how the World Bank can continue contributing to the post-pandemic recovery to guarantee macroeconomic stability, strengthen protection opportunities for the most vulnerable households, and encourage the economy and inclusive and sustainable growth, according to a press release from the organization.

During the first day of his visit Jaramillo will meet with the President of the Republic, Luis Abinader, accompanied by Martin Spicer, regional director for Latin America and the Caribbean of the International Finance Corporation (IFC); Michel Kerf, director of the World Bank for Central America and the Dominican Republic; Judith Green, IFC regional manager for the Caribbean; and Alexandria Valerio, World Bank representative in the country. On the same day Jaramillo will participate in meetings with the National Economic Team, headed by the Ministers of Economy and Finance, Miguel Ceara Hatton and José Manuel Vicente, respectively.

On Tuesday 26th Jaramillo will make a field visit to interact with Dominican families on the water issue accompanied by directors of the Water Cabinet and to learn about the 15-year national strategy that contemplates investments of US$8.85 billion for dams, more efficient irrigation systems, improvement of potable water services and wastewater collection and treatment, and pollution reduction.

In support of this strategy, the World Bank recently approved a US$43.5 million loan to improve drinking water and sanitation services in the municipalities of Moca and Gaspar Hernández, in the province of Espaillat. There, 105,000 people will have access to uninterrupted drinking water service, 12,700 of whom will have a water connection for the first time. In addition, 90,000 people will have access to wastewater treatment service and 47,000 to new sewage connections.

Officials from IFC, the private investment arm of the World Bank Group, will hold meetings with the private sector to continue supporting the country’s economic recovery. IFC has been working with financial institutions in the Dominican Republic to facilitate financing for small and medium-sized enterprises so they can continue to operate and maintain jobs. It has also participated in the investment of key infrastructure and sustainable tourism projects in the country.

Carlos Felipe Jaramillo, a Colombian national, has served as the World Bank’s vice president for Latin America and the Caribbean since July 1, 2020. Jaramillo, who oversees relations with 31 countries and a portfolio of projects, technical assistance and grants approaching US$32 billion, is leading the World Bank’s unprecedented response to the covid-19 crisis in the region, one of the hardest hit by the pandemic.

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