CAE, which owns and operates the airport, will build a new runway and taxiway suitable for larger aircraft and expand the passenger terminal. The expansion will enable increased passenger capacity, improve services, and diversify destination markets. It also will benefit the local economy by supporting tourism, a key source of foreign exchange and fiscal revenues.

The airport serves top-tourist destinations of the Punta Cana and Bavaro regions and is the country’s busiest and fastest-growing airport. During the first 10 months of 2009, it handled about 3.2 million passengers and accounted for roughly 43.2 percent of total air passengers in the Dominican Republic.

“In 1984, we opened the Punta Cana International Airport, an essential infrastructure project for the Dominican Republic’s economic and social growth,” said Frank Rainieri, President and CEO of Grupo Punta Cana SA, CAE’s shareholding company. “We welcome IFC’s financial support and expertise in this project that will help enhance regional development.”

Salem Rohana, IFC Representative in the Dominican Republic, said, “IFC’s support of the Punta Cana International Airport project shows our commitment to helping develop the local infrastructure and tourism sectors, a cornerstone of our strategy in the Caribbean. It also reiterates our continued support of the region in the aftermath of the global financial crisis.”

Banco BHD, a leading commercial bank in the Dominican Republic and IFC investee bank, provided an additional $10 million in cofinancing for the expansion.

“With this financing, BHD once again demonstrates its commitment to supporting the development of its corporate clients, while also partaking in the social and economic progress of the Punta Cana region and the country,” said Carmina Pellarano, Banco BHD Vice President of Corporate Banking, Large Corporations, and Multinationals.

IFC’s committed investment portfolio in the Dominican Republic is $183 million. Over the past 10 years, IFC’s investment in the Caribbean totaled $1.2 billion, including $268 million in syndications, for 61 projects. IFC is expanding operations in the Caribbean, with special focus on diversifying economies and strengthening private sector competitiveness to stimulate economic growth and job creation. Priority sectors are infrastructure, health, education, tourism, and the financial sector to promote access to finance for micro, small, and medium enterprises.

IFC is the only international financial institution focused exclusively on the private sector, the engine of sustainable development in emerging markets. Along with IBRD, it is currently seeking a capital increase to strengthen its ability to create opportunity for the poor in developing countries—including by supporting infrastructure projects in the Caribbean.

Terms of the deal involving the 121-acre property, which includes an 1,800-room hotel, were not revealed.

Hard Rock Hotel & Casino Punta Cana will offer more than 48,000 square feet of gaming space, with a high-limit poker room, a VIP lounge, and a race and sports book, along with 457 slot machines and 40 tables. Games will include baccarat, blackjack, craps and roulette.

The Seminole Tribe acquired the Hard Rock brand in 2007 with plans for international expansion of Hard Rock properties. The tribe also owns the Seminole Hard Rock Hotel & Casino in Tampa.

By TED JACKOVICS  | The Tampa Tribune

Parish of Jesus the Master

This beautiful Catholic Church is new to the Parish of Cortecito in the area of Bavaro/Punta Cana.

The Church is not completed yet-donations are sorely needed. Masses are held currently in grass hut where the faithful gather every week to praise our Lord, Jesus Christ. Come see for yourself the beauty of the surroundings and feel God’s presence among the congregation. People from different countries of the world gather here to hear the word of God. Come experience it at least once for yourself-whether you are here on a short vacation, an extended vacation or live here part-time or full time.

The residing priest is Father Jose Eusebio. He can be contacted on his cell phone; 809-710-2635. The deacon is Francisco Tavarez: ing.tavarez32@gmail.com. His cell number is 809-962-5559.

Mass times: Wednesdays at 7:00 PM (19.00hours)

Sundays at 10:100 AM

Father Eusebio also conducts the following services at these locations:

Saturdays and Sundays at 6 PM (18.00 hours) -Mass Virgin Chapel in Barceló hotel.

Wednesdays at 5:30 PM (17.50 hours) Hoyo de Friusa

Thursdays at 4:00 PM (16.00 hours) Cabeza de Toro.

Please come help our parish grow!

Parroquia de Jesús Maestro

Esta hermosa iglesia católica es nueva en la Parroquia de Cortecito, en la zona de Bavaro / Punta Cana.

La Iglesia aún no ha concluido las donaciones que son muy necesarias. Las Misas se celebran actualmente en la choza de paja donde los fieles se reúnen cada semana para alabar a nuestro Señor, Jesucristo. Venga a ver por si mismo la belleza de los alrededores y a sentir la presencia de Dios entre la congregación. Personas de diferentes países del mundo se reúnen aquí para escuchar la palabra de Dios. Venga a disfrutar al menos una vez de esta Iglesia si usted está aquí en unas vacaciones cortas, unas largas vacaciones o si vive aquí en tiempo parcial o tiempo completo.

El sacerdote residente es el padre José Eusebio. Él puede ser contactado en su teléfono celular, 809-710-2635. El diácono es Francisco Tavárez: ing.tavarez32 @ gmail.com. Su número de celular es 809-962-5559.