The Inter-American Development Bank (IADB) approved a US$100 million loan (IADB-DR-L1141) for the rehabilitation and development of Puerto Manzanillo, the northwestern-most port closest to the United States, the main market for Dominican trade. The program’s objective is to improve the facilities of the port of Manzanillo, contributing to the competitiveness and insertion of regional and international trade routes of the productive sector in the north of the country.
Cibao industries spokespersons had urged the development of the port that would enable lower cost and faster shipping to the eastern coast of the United States. At present, 93% of the tonnage of exports and imports is transported from ports located in the country’s south even when most farm production and half of the country’s free zone manufacturing capacity is located in the northern part of the country.
The project is to be executed with private investment. The Manzanillo development plan also contemplates the construction and rehabilitation of access roads to the port, including the Navarrete-Montecristi Highway, that is already underway, and the development of secondary roads under the responsibility of the Ministry of Public Works.
Minister of the Presidency Lisandro Macarrulla said the approval is an important step for the development of the master plan for Manzanillo.
Read more in Spanish:
IADB
Listin Diario
11 June 2021