Dominican Republic to Receive €13 Million Investment from the European Union

News Americas, SANTO DOMINGO, DR, Mon. April 17, 2023: The European Union (EU) has announced a new investment of €13 million in the Dominican Republic, in an effort to support the country’s economic and social development.

The investment will be focused on promoting sustainable agriculture and rural development, with the aim of improving the livelihoods of farmers and their families in the country. It will also help to strengthen the Dominican Republic’s position as a leading exporter of agricultural products to the EU market.

The investment was announced by Jutta Urpilainen, the EU Commissioner for International Partnerships, during a visit to the Dominican Republic. Urpilainen praised the country’s efforts to promote sustainable development, and emphasized the EU’s commitment to supporting its progress.

“By investing in sustainable agriculture and rural development in the Dominican Republic, we are not only supporting the livelihoods of farmers and their families, but also contributing to the country’s overall economic growth and social development,” Urpilainen said.

The investment will be implemented through the EU’s Agricultural Competitiveness Program, which aims to promote sustainable agriculture and rural development in countries across Latin America and the Caribbean.

The program has already supported a number of initiatives in the Dominican Republic, including the establishment of a national system for traceability and certification of organic products, and the promotion of sustainable production practices in cocoa farming.

The announcement of this new investment comes as the Dominican Republic continues to recover from the economic impact of the COVID-19 pandemic. The EU’s support will provide a much-needed boost to the country’s agriculture sector, which has been hard-hit by the crisis.

Overall, the EU’s investment in sustainable agriculture and rural development in the Dominican Republic is a positive step forward for the country’s economic and social development, and highlights the importance of international partnerships in promoting sustainable growth and progress.