The Dominican Republic and the IDB agree on transport and logistics cooperation
The Government of the Dominican Republic and the Inter-American Development Bank (IDB) have agreed on a US$600,000 technical cooperation grant to strengthen the Ministry of Economy, Planning, and Development (MEPyD for its initials in Spanish) and support the national strategic logistics plan.
Under the agreement, the IDB will grant non-reimbursable financial assistance to the country in the amount of US$500,000 on the condition that the Dominican government contributes US$100,000. The objective is to support the ministry, through the Deputy Ministry of Competitiveness Management and its Department of Transport, Logistics, Connectivity, and Energy, with a training program to help expand knowledge about the subjects of logistics and transport economy, and also to create a national freight transport and logistics observatory in conjunction with the Santo Domingo Technological Institute (INTEC for its initials in Spanish). Under the agreement, the country also assumes its obligations to establish the Mesoamerican observatory, a regional initiative, as well as to finance consultancies and studies on logistics subsystems.
The agreement was signed by Temístocles Montás, the Dominican Minister of Economy, Planning, and Development, and by Flora Montealegre Painter, IDB Resident Representative in the country.