More government borrowing

[NewsWhore]

Hoy is reporting that the Colombian Export Bank (Bancoldex) will grant the DR a US$100 million line of credit. US$80 million of the money will be used to build housing for poor families while RD$21 million will be used to import coal. The housing loan will have a two-year grace period for a ten-year duration. The deal was struck during Foreign Relations Minister Carlos Morales Troncoso's recent trip to Colombia. During his trip he held private meetings with Colombian President Alvaro Uribe and Foreign Relations Minister Jaime Bermudez Merizalde. Hoy is also reporting that the Inter-American Development Bank (IDB) has approved the installation of a Colombian built pilot bio-diesel plant in the DR. The plant could be running by 2009 and will produce 10,000 liters per day.

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