NewsWhore
10-22-2009, 02:20 PM
The Inter-American Development (IDB) has approved a US$500 million emergency loan to the DR in order to support key social service programs in the country. The loan, which was approved by the Bank's board of directors, will also finance the country's plan to streamline energy subsidies and improve financial management of power companies, a move that is aimed at reducing the fiscal deficit. The country will use the IDB financing to increase spending on targeted subsidies, education, health care and the Solidarity Program, a conditional cash transfer plan for the poor. The IDB loan, which matures in five years, will be disbursed in 18 months. The loan has a grace period of three years and its interest rate is based on Libor.
www.iadb.org/news/detail.cfm?Language=English&id=5802 (http://www.iadb.org/news/detail.cfm?Language=English&id=5802)
More... (http://www.dr1.com/index.html#4)
www.iadb.org/news/detail.cfm?Language=English&id=5802 (http://www.iadb.org/news/detail.cfm?Language=English&id=5802)
More... (http://www.dr1.com/index.html#4)