World Bank Officials Praise Dominican Republic's Economic Stability

SANTO DOMINGO – World Bank representatives met with Dominican Republic President Luis Abinader on Tuesday at the National Palace, commending the nation's strong economic and social performance following a technical mission to the country.

President Abinader was joined by Minister of the Presidency José Ignacio Paliza during the discussions.

Officials from the multilateral institution addressed the country's development agenda, along with various programs and projects the World Bank supports. These initiatives focus on strategic areas such as economic growth, social inclusion, and institutional strengthening.

Following the meeting, Diana Alarcón, a World Bank board representative, explained that the delegation, which represents roughly a third of the institution's member countries, had toured various World Bank-financed and supported projects to assess their operations and results.

Alarcón characterized the Dominican government's work in maintaining macroeconomic and political stability as "very impressive." She also highlighted efforts aimed at sustaining economic growth while simultaneously reducing poverty and increasing wages.

She further noted significant opportunities to strengthen the World Bank's cooperation with the Dominican Republic, particularly in social programs and support for small and medium-sized enterprises and the private sector. Key areas for collaboration include tourism, energy, and commercial banking.

Marcos Chiliatto, also a World Bank board representative, emphasized that the Dominican Republic has achieved an average growth rate exceeding 5% over the past three decades. He described this sustained growth as a rare accomplishment globally and crucial for poverty reduction.

Chiliatto also praised the country's progress in social indicators, including reducing hunger to historic lows through coordination with organizations like the FAO. He acknowledged the strengthening of employment policies and job training, citing World Bank-backed programs such as Súperate.

Looking ahead, Chiliatto identified increasing productivity as a primary challenge. This involves improvements in infrastructure, education, energy, ports, and communication systems to help the country regain historical growth rates of 4% to 5%, which are considered benchmarks in the region.

The World Bank delegation was led by Executive Director Abdelhak Bedjaoui, accompanied by Naoya Jinda, Executive Director for Japan, and Sigrun Rawet, Executive Director. Alternate Executive Directors Paul Bonmartin and Lonkhululeko Magagula also participated.

Other attendees included Julio Díaz, advisor to the Executive Director for the Dominican Republic; Elizabeth Ann Marcano, Division Director for the International Finance Corporation (IFC); Ronke Ogunsulire, IFC Country Manager; and Carolina Rendón, World Bank Resident Representative in the country. María Hermann also joined the delegation.

The meeting underscored the Dominican government's commitment to maintaining active cooperation with international financial organizations, aiming to advance public policies and projects that contribute to sustainable development and the well-being of its population.