Santo Domingo, Dominican Republic
DEPUTY ADMINISTRATOR ISOBEL COLEMAN: Good afternoon, everyone.
It’s an honor to be here tonight to commemorate the DFC’s approval of a $200 million loan to Banco Popular Dominicano. This deal is particularly attractive from a development perspective as it will provide small- and medium- enterprises and women-led businesses with access to finance.
Leadership in the Dominican Republic recognizes that achieving robust economic growth – that serves everyone equally – requires transparent, accountable institutions.
Since taking office, President [Luis] Abinader’s administration has instituted real reforms to strengthen the rule of law, combat corruption, and show the Dominican people that a stronger democracy delivers greater opportunities for everyday, hard-working citizens.
For our part, the U.S. government remains committed to working with the Dominican people, and their elected representatives, to advance these efforts.
In a demonstration of that commitment, President Biden was proud to host President Abinader last month at the White House for the Leaders Summit of the Americas Partnership for Economic Prosperity, or APEP.
Together with ten other leaders, they committed to drive inclusive growth, strengthen critical supply chains, bolster regional competitiveness, and mobilize high-standard investment in our hemisphere.
We see this vision coming to life here in the Dominican Republic.
In just the past two years, the United States has established multiple new, complementary lines of effort, backed by millions of dollars in initial investments, to stimulate economic growth, strengthen Dominican industry, and lift up Dominican entrepreneurs.
And earlier today, I was pleased to join Minister of Commerce [Victor] Bisono and announce that USAID will invest an additional $1.4 million to bring the Global Alliance for Trade Facilitation to the Dominican Republic, which will help Micro, Small, and Medium Enterprises take advantage of increased trade opportunities.
All of us know that the progress we’re striving for – whether on improving the business environment and growing the economy, reducing poverty and inequality, or strengthening democracy – it takes time and hard work.
But when people demand change, and when they elect leaders who are willing to respond to calls for transparency and accountability, it’s important to invest in that enthusiasm – as you have done with President Abinader – with reforms that give people hope that their government is looking out for them.
That’s what today is all about: Moving quickly to capitalize on democratic openings, advancing critical reforms that build public trust, and signaling to private investors that now is the time to invest.
Distinguished guests: in the U.S. government, you have a partner committed to helping you seize and capitalize on this moment.
Thank you so much, again, for having us.