Vice President Raquel Peña spoke at the opening of the 64th annual meeting of the Assembly of the IDB Board of Governors and the Inter-American Investment Corporation from 6 to 10 March 2024 at the Barcelo Bavaro Convention Center in Punta Cana.
The Vice President said that the Dominican Republic and the Caribbean are ready to play a more leading role in the economic context and strengthen the links that promote investment in the supply chain, in the diversification of export markets and the development of micro, small and medium-sized businesses.
She spoke of the multiple opportunities in terms of energy transition, job creation, climate change, food security and preservation of biodiversity.
“These meetings open a space for strengthening the traditional exchange of ideas, knowledge and strategies that will allow both the IDB Group and the member countries to have more effective tools to promote the socioeconomic progress of Latin America and the Caribbean,” she stated.
She said that thanks to the support and financing of the IDB Group, member countries have been able to address complex challenges, through initiatives that generate a decisive impact in sectors such as infrastructure, education, health, transportation, agriculture and others.
She invited people to take advantage of the dialogues and debates to seek innovative and sustainable solutions that benefit the population.
Also speaking on opening day, Dominican Hacienda Minister José Vicente stated that the forums are a space for professionals to update their knowledge, through the experiences implemented by other nations, and improve the quality of life of citizens.
He also highlighted how the Dominican Republic is above average in economic growth and stability.
The actual IDB Governors’ meetings begin on 9 March. The governors will discuss ways the IDB Group – as the region’s leading source of development financing, knowledge and research – can increase its support for Latin America and the Caribbean amid rising social demands, restricted fiscal space to meet those demands, and the need to increase financing to transition to green economies.
Some of the key issues that Governors will address include the new IDB Group Institutional Strategy; the capital increase proposal for IDB Invest, as well as a new business model that would expand its development impact through the private sector; and new funding for IDB Lab, the Bank’s innovation laboratory, to evolve its business model on private sector solutions for poor and vulnerable populations to one of multisource funding.
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7 March 2024