IDB defends Public-Private Partnerships as tools for the transformation of DR

The Inter-American Development Bank (IDB) stated that public-private partnerships (PPPs) are tools in the economic and social transformation of the Dominican Republic.

Gastón Astesiano, head of the APP team in the Vice Presidency of Countries of the IDB, said this during the Symposium “Sustainable Infrastructure in the Dominican Republic: PPPs as a driver of growth”, organized by the General Directorate of Public-Private Partnerships (DGAPP) with the support of the multilateral organization.

Astesiano emphasized that the PPPs represent “a transformation tool that allows the Dominican Republic to advance towards competitiveness, resilience and inclusion, as long as clear rules and a solid institutional framework are maintained.”

He declared that the country has built a climate of trust between the State and the private sector, which makes the nation an attractive and safe destination for international capital.

On his side, Denis Leduc, senior specialist in APP of the IDB, presented a detailed diagnosis of the magnitude of the infrastructure need in the region and in the country.

He explained that the Dominican Republic needs to invest an average of 243 dollars per capita per year until 2030, to achieve the Sustainable Development Goals (SDGs), which is why public-private partnerships are ideal to achieve the goal.

Leduc pointed out that private investment must play an increasing role, for which the Dominican Republic is prepared due to its robust regulatory framework, institutional capacity, and political and social will.

“These elements are the strongest predictors of success in APP implementation.”

The CEO of the DGAPP, Andrés Lugo Risk, highlighted in the activity that sustainable infrastructure is the basis of social well-being and economic growth, for which public-private partnerships make up the model of greatest strategic value for its promotion.

The Symposium brought together experts who agreed that the Dominican Republic is already showing tangible progress, such as the project to convert the Port of Arroyo Barril (Samaná) into a modern cruise terminal, the first PPP awarded in the country.