CIFI supports the Dominican Republic as an infrastructure and energy investing destination
Washington.- TheInter-American Corporation for Infrastructure Finance (CIFI) is firmlysupporting the Dominican Republic (DR) as a destination for internationalinvestment in infrastructure. CIFI, established in 2001, in Washington DC, isthe leading non-deposit taking financial institution for infrastructures andenergy in the Latin America and Caribbean Regions. Since its establishment, thecorporation has developed around 160 projects funded with $ 1,300 million.Around 10% of them have been accomplished in the DR and, to date, theseprojects have led to an aggregate investment of 1,000 million dollars.
Due to its track record and experience, CIFI is a strategicpartner pulling institutional funds for infrastructure projects in the country.Moreover, the Corporation wants to be a pioneer when it comes toattracting funding from long-term investors such as insurance companies orlocal and international pension funds.
The current pension system in the DR was established in2001 on a broad base of political and social support. Since then, thepension scheme has increased to the current RD$ 368 billion ($ 8.1 billion).CIFI offers an interesting and alternative opportunity with selectedhigh-yield. ???????
Unique shareholder profile
One of CIFI’s added value?characteristics is the uniqueshareholder profile, composed of Banks; international funds such as NorwegianInvestment Fund for Developing Countries, Finnish Fund for IndustrialCooperation, Caixa Banco de Investimento, Banistmo, Itau-Unibanco and BancoPichincha; and multilateral institutions like Central AmericanBank for Economic Integration (CABEI), International Finance Corporation (IFC,World Bank Group) and Caribbean Development Bank (CDB). Thisshareholder profile offers a quality brand, a greater capacity of syndicationand the possibility of raising funds in other international markets.
Of all of the projected financed by the DR so far, one ofthe highlighted projects is the Punta Cana-Macao Energy Consortium(CEPM), which generates and transmits electricity in the tourist areaof Punta Cana, Macao, Bavaro and Bayahibe; airport facilities such as LaRomana International Airport or Aerodom, operatingconcessionaire of 6 airports; or DP World Caucedo, a stock-in-transit centrefor North and South America which has contributed to consolidate the DR as aglobal logistic relevant player.
The Dominican Republic Government has set a target of 10million foreign visitors before 2022. Investing in infrastructures to improve roadconnections and minimize travelling times is a strategic issue for the country.In this sense, CIFI is a strategic partner for the Dominican authorities due toits core activity of advising Governments and developers to structure new orongoing funding for projects and the worldwide identification of investingopportunities.
CIFI´s track record has been recognised with internationalawards. Most recently, Project & Infrastructure Finance magazineawarded the Atlantic Highway Project (Autopistas del Atlántico S.A.,ADASA). This project, of 220 Km of length, has the objective ofdeveloping the Honduran tourist sector.