The governments of the Dominican Republic and the United Kingdom yesterday signed a memorandum of understanding giving these countries access to a £4 billion line of credit and which sets the initial parameters for future cooperation between the two countries, including the creation of a commercial relationship.

With these resources and through this agreement, the Dominican Government will implement strategic infrastructure projects in the water, health, transportation, energy and security sectors. The signing of the agreement took place in the Green Room of the State Palace, chaired by the Minister for the Presidency Joel Santos, indicating that the projects in the area are part of a multi-year strategic plan, which also includes sectors with a high social impact. For the UK, Her Majesty’s British Secretary of State signed, through the Export Credit Guarantee Department operating as UK Export Finance (UKEF), Vomic Shah, in the presence of the British ambassador in the country, Mockbul Ali.

Project

According to Joel Santos, the agreement sets the parameters for future cooperation between the two countries and will cover projects in institutions such as the Ministry of Public Health; Defend; Agriculture; Energy and Mining, as well as the National Institute of Water Supply and Sewerage (Inapa), the Santo Domingo Aqueduct and Sewerage Corporation (Caasd), the National Institute of Hydraulic Resources (Indrhi) and the Metropolitan Bus Service Office (OMSA).

As an example, Joel Santos pointed out that Inapa will be responsible for the implementation of eight development projects, such as Universal Sanitation of Tourist and Coastal Cities and the construction of Multiple Aqueducts in the eastern region.

In the same way, he indicated, that the CAASD will undertake a Social Impact Study, Sanitation and Residual Water Supply from 92 ravines in the Greater Santo Domingo neighborhood, a solid waste management proposal design in the affected communities, as well as a wastewater design from the Greater Santo Domingo canyon. .

Minister Joel Santos explained that the agreement contains fifteen development projects that are part of the agreement between the two countries, and the plan is to start implementing it in 2024.

On his part, the head of Origin of UK Export Finance (UKEF), Vomic Shah, reiterated his commitment to being the Dominican Republic’s ally of choice and working to bring about transformative change for the country.

The UK Export Finance (UKEF) Head of Origin said the signing of this Memorandum of Understanding was a great example of what the two countries can achieve together and will translate into the growth of the bilateral relationship between the UK and the Dominican Republic.

Vomic Shah thanked President Luis Abinader on behalf of UK Export Finance for the interest and trust placed by the Dominican Government in the UK.

The agreement was made 16 days after the meeting

Joel Santos recalled that following a meeting on June 6 between President Luis Abinader and the British ambassador to the Dominican Republic, Mockbul Ali, who reported the extension of the credit line to the country to 4,000 million pounds sterling by the British Government for confidence in the Dominican economy. “Today, 16 days later, we meet again to sign this Memorandum of Understanding, which will provide the Dominican Republic with access to resources for the implementation of strategic projects,” he said.