Today in Santo Domingo, in partnership with the U.S. International Development Finance Corporation (DFC), Administrator Samantha Power welcomed DFC’s new, $42 million loan portfolio guaranty with Banco de Reservas de la República Dominicana (Banreservas), a local Dominican bank. This guaranty is intended to catalyze up to $84 million in local currency lending to help underserved women succeed as entrepreneurs and increase their economic empowerment, while also supporting climate adaptation and clean energy.
On Tuesday, Administrator Samantha Power announced that USAID is working with Congress to provide over $45 million to help build a more prosperous and resilient Dominican Republic. This includes more than $43 million in bilateral funding to address key areas including inclusive economic growth, democracy and human rights, climate adaptation and disaster readiness, basic education, global health security, and more.
As part of this assistance, Administrator Power also announced a new USAID program through the Gender Equity and Equality Action Fund. With $2.5 million from the Fund, USAID will work with civil society organizations and women-led businesses to improve women’s financial and digital literacy and strengthen communities’ ability to respond to gender-based violence.
The United States is committed to partnering with the people and government of the Dominican Republic to help advance democratic governance and bolster economic growth, supporting the lives and livelihoods of the Dominican people.