World June 7, 2023 | 8:15 am

United Kingdom will expand credit line for Dominican Republic

Santo Domingo.- President Luis Abinader recently met with the British ambassador to the Dominican Republic, Mockbul Ali, at the National Palace. During the meeting, it was announced that the United Kingdom will extend a line of credit to the Dominican Republic amounting to £4 billion. This decision reflects the UK government’s confidence in the Dominican economy.

The British ambassador emphasized the strong bilateral relationship between the two countries and expressed confidence in the government of the Dominican Republic and its economic performance in recent years. As a result, a Memorandum of Understanding (MoU) will be signed, granting the Dominican Republic access to resources for strategic infrastructure projects, with a particular focus on water, public health, and transportation. This financing will provide extensive coverage for the country, making it one of the most significant investments in the Latin American region and the Caribbean.

The ambassador highlighted that the MoU is part of a broader cooperation effort aimed at strengthening the bilateral relationship between the UK and the Dominican Republic. The British government sees this agreement as a testament to the unprecedented strength of their partnership, and the £4 billion funding availability marks a significant milestone in their collaboration.

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Paul Tierney
June 7, 2023 8:42 am

It could be reasonably assumed one of many reasons for the kindness of the UK to expand the credit line for the RD is to keep the country under the wing of Anglo American political economical influences. There is a concern over China’s creeping influence may compromise the economies of vulnerable countries of Western Hemisphere.

June 7, 2023 1:09 pm
Reply to  Paul Tierney

I agree 100% with your assessment on this matter. China’s economic influence is slowly taking over the economies of LATAM countries. As an example, look at the amount of new Chinese owned department stores continue to open and expand in RD using investment capital facilitated by the Chinses government. .