Economy May 18, 2015 | 7:37 am

IDB to boost Dominican Republic funding to US$2.0

Santo Domingo.- Dominican Republic executive director to the Inter-American Development Bank (IDB) Carlos Pared on Saturday said a new financial corporation has been created to increase funding to US$2.0 billion to support the private sector.

The Dominican official spoke to the IDB during the activities organized by his office as part of Dominican Week in the United States.

Pared said during Dominican Week activities IDB president Luis Alberto Moreno confirmed support to the private sector with emphasis on public-private partnerships, SMEs, infrastructure and innovation.

"We think the future of the region’s economic and social development depends on increasing productivity and reducing inequality," Pared said.

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