NewsWhore
03-30-2009, 04:40 PM
Hacienda Minister Vicente Bengoa and Inter-American Development Bank president Luis Alberto Moreno signed three loans for US$400 million during the Annual Meeting of IDB Governors in Colombia. One 25-year loan for US$40 million will fund work on electricity transmission lines, another for US$300 million on a five-year basis will be used to boost the productive sector, and a third for US$60 million on a 20-year basis is aimed at stimulating productivity and competitiveness. Bengoa said that the government is increasingly concerned about the possibility that the international economic crisis could end up affecting more than just the pocketbooks of Dominicans. Speaking in Medellin, Bengoa said that as the crisis spreads there would be an increase in social unrest, which is already starting to happen. Bengoa said that if no attention is paid to these events it could turn into a crisis of governance. During a press conference at the Inter-American Development Bank (IDB) meeting Bengoa called for an increase in the bank's minimum capital, which would allow increased levels of loans for countries in the region.
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