U.S. to invest 156M in Dominican Republic and other DR-CAFTA signatory countries

http://www.dominicantoday.com 18/10/06

Santo Domingo.- The government of the United States announced that it will invest 156 dollars in the Dominican Republic and in other Central American countries that recently cosigned the free trade agreement known as DR-CAFTA.

The general director of the Overseas Private Investment Corporation (OPIC), Robert Mosbacher, made the announcement during a press conference in San Salvador, after singing accords with representatives of the US companies that will manage the projects.

These initiatives, jointly funded by private capital and the OPIC, are meant to assist in renewable energy projects and housing loans for lower income individuals, according to Mosbacher.

The project denominated ‘Latin Energy III’ is to finance renewable energy generation in various countries across the continent.

This project will be managed U.S. firm Conduit Capital Partners.

The U.S. official did not specify the starting date for these projects. Notwithstanding, he said that funds are available “to begin immediately.”

Mosbacher praised El Salvador’s leadership in the region, for its forefront implementation of the FTA as of March 1, 2006, adding that San Salvador has been chosen to host a ‘Regional Conference’ that will congregate businesspersons from the U.S., Central America, Mexico and the Caribbean.