SANTO DOMINGO – The Ministry of Finance and Economy presented the draft of the country's Financing Strategy, prepared with technical support from the United Nations Department of Economic and Social Affairs, with the purpose of strengthening economic growth, reducing poverty and moving towards a sustainable development model, according to the Ministry.
According to information from Finance and Public Credit (MHE), this strategy is part of the Integrated National Financing Framework (INFF), a tool that seeks to improve the alignment between planning and budgeting, as well as optimize the monitoring of financial flows. According to the Ministry, this approach also allows for the mobilization of resources from both the public and private sectors, at the national and international levels.
The Ministry indicated that, through this instrument, financing gaps can be identified, available resources mapped, and concrete actions established to align investments with the country's priorities, in accordance with the National Development Strategy 2030 and the 2030 Agenda.
According to the entity, the funds included in the strategy can be directed toward key sectors such as infrastructure, health, and energy, as well as areas related to financial policies, risk management, private financing, and international cooperation. According to the Ministry of Economy and Finance (MHE), this sectoral approach will allow for a more efficient distribution of resources based on the needs of sustainable development.
The institution explained that it is leading the process of building and implementing the framework through the Vice Ministry of Planning and Public Investment, with technical support from agencies, funds and programs of the United Nations system, particularly through the financing initiative for small island developing states promoted by UN DESA.
During the outreach event, authorities indicated that the country has set goals such as doubling the Gross Domestic Product (GDP) by 2036, which, according to the Ministry, implies strengthening the capacity to mobilize and manage financial resources from various sources.
In that context, the Director of Sectoral Development and Planning, Nelson David Chávez, highlighted that this type of space allows enriching the proposal through the exchange of ideas and contributions from different sectors, while also emphasizing the importance of a comprehensive vision in development financing, the institution indicated.
The activity was aimed at public officials involved in the design of policies and financing instruments, as well as representatives from the private sector and international cooperation, according to the Ministry.
The Ministry indicated that bilateral meetings will be held in the next stages to validate the draft, with a view to systematizing the observations received and moving towards the presentation of the final version of the strategy.
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