NewsWhore
05-21-2008, 05:30 PM
The World Bank has approved a US$42 million loan for the Electricity Distribution Rehabilitation Project, aimed at improving the service for EdeNorte, EdeSur and EdeEste electricity customers in the DR.
"This project will help reduce both technical losses and energy theft on the EDEs' rehabilitated power circuits, as well as improve the quality of electricity service for regular customers," said Yvonne Tsikata, World Bank Director for the Caribbean. The project goals are to increase the three EDEs' Cash Recovery Index by reducing technical losses and energy theft, as well as improving the companies' coverage. It also aims to increase the hours of electricity provided on rehabilitated circuits as part of the 24 Hours of Light Program, based on social agreements between the distribution companies and community organizations.
The initiative seeks to increase the electricity service to 24 hours in exchange for a substantial increase in the CRI. The rehabilitation of the power circuits will ensure improved quality of life and greater confidence in customer service as well as stabilizing the precarious situation caused by illegal connections.
In addition to the new loan, the World Bank's energy sector projects in the Dominican Republic include a US$150 million budget support loan (US$100 million of which was disbursed in 2006 and 2007) linked to the distribution companies' increased CRI; and a technical assistance loan to the energy sector for improving its institutional performance.
The new World Bank fixed-margin loan for US$42 million based on a LIBOR rate has a payment period of 30 years and a five-year grace period.
More... (http://www.dr1.com/index.html#4)
"This project will help reduce both technical losses and energy theft on the EDEs' rehabilitated power circuits, as well as improve the quality of electricity service for regular customers," said Yvonne Tsikata, World Bank Director for the Caribbean. The project goals are to increase the three EDEs' Cash Recovery Index by reducing technical losses and energy theft, as well as improving the companies' coverage. It also aims to increase the hours of electricity provided on rehabilitated circuits as part of the 24 Hours of Light Program, based on social agreements between the distribution companies and community organizations.
The initiative seeks to increase the electricity service to 24 hours in exchange for a substantial increase in the CRI. The rehabilitation of the power circuits will ensure improved quality of life and greater confidence in customer service as well as stabilizing the precarious situation caused by illegal connections.
In addition to the new loan, the World Bank's energy sector projects in the Dominican Republic include a US$150 million budget support loan (US$100 million of which was disbursed in 2006 and 2007) linked to the distribution companies' increased CRI; and a technical assistance loan to the energy sector for improving its institutional performance.
The new World Bank fixed-margin loan for US$42 million based on a LIBOR rate has a payment period of 30 years and a five-year grace period.
More... (http://www.dr1.com/index.html#4)