Santo Domingo.- The organization Hispanics in Philanthropy (HIP), with support from the Inter-American Development Bank (IDB), the Falcondo Foundation and a group of local donors began the third phase of the Transnational Fund for Philanthropy in Dominican Republic, with a RD$14.4 million donation.

HIP and the local donors signed the partnership agreement with the selected organizations and delivered the first donation, with HIP and the IDB contributing RD$7.6 million and the local group RD$6.8 million.

This phase seeks to develop communities by funding productive projects in poor regions.