BanReservas financing boosts modern Manzanillo Power Land energy infrastructure

Montecristi. – The director of the Banco de Reservas of the Dominican Republic, Dr. Leonardo Aguilera, highlighted the economic and social impact of the electric highway inaugurated by President Luis Abinader, assuring that it is a key work for the sustainable development of the country. During the event, Aguilera praised the effort of the business team responsible for the project, highlighting their perseverance in the face of the difficulties inherent in large-scale initiatives.

“All great projects have great problems, but you never fell into sadness or neglect,” he expressed, while describing the work as “a transcendental act of inauguration that marks a before and after.”

The official stated that this infrastructure “more than a successful business project, represents a strategy for the permanent development of our country”, while highlighting that it constitutes “an essential axis to revitalize the progress of the area”. In that sense, it was pointed out that the initiative responds to the Government’s vision of distributing opportunities throughout the national territory. “This project is driven by the president’s vision to bring well-being to all regions, especially the north and south of the country,” he indicated.

Aguilera highlighted the financial institution’s commitment to the project, saying that “from the beginning, Banco de Reservas has supported this initiative with unwavering determination, aware of its impact for the benefit of all the Dominican people”.

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He specified that BanReservas approved, along with its subsidiary AFI Reservas, credits for 345 million dollars. “This is a credit push of great relevance for the completion of this project,” he affirmed. In addition, he explained that the entity participated in a syndicated financing for $440 million, along with other institutions. “The Reserve Bank has supported the energy sector with financings that exceed one billion dollars, which has contributed to investments that surpass 4.8 billion and have added around 2,800 megawatts of generation capacity,” he pointed out. The director of the banking entity also highlighted the direct impact of the work on the communities.

“This energy complex guarantees a continuous, robust, and stable supply of the national electricity system, while contributing to local employment and the economic revitalization of Montecristi and the entire northwest line,” he said.

Aguilera also highlighted President Abinader’s support for the project, revealing that the president was constantly informed about its progress. “Every day the president would call me and ask: ‘How are we doing?’, and I would respond: ‘Smooth sailing’,” he recounted. Finally, he praised the business sector’s confidence in the country and in the financial institution. “It is opportune to highlight the courage and confidence in the future of the country of these entrepreneurs, who made this great dream come true,” he expressed, reiterating BanReservas’ commitment to continue supporting initiatives that promote national development.