IIC Contributes To The Dominican Economy

04/19/1999

IIC funding will promote domestic employment and export earnings in Dominican Republic WASHINGTON, D.C. - On April 15, 1999, the Board of Directors of the Inter-American Investment Corporation (IIC) approved a $4.55 million loan to Corporación de Zona Franca Industrial de Santo Domingo Este, C.X.A. (HAINAMOSA, D.N.) in the Dominican Republic. The project consists of the expansion of HAINAMOSA, a free trade zone that leases space mainly for export related industrial and assembly operations. The company also provides ancillary services to its customers. The total cost of the expansion project is $9.1 million.

Through IIC´s financing, the company will expand its industrial space generating additional revenues with marginal increases in the cost of operation. The project is expected to create 4,300 direct jobs and promote foreign exchange generation, benefiting the economy of the Dominican Republic

Contact: Steven Reed

Telephone: (202) 623-3981

Email: stevenr@iadb.org