NewsWhore
07-06-2006, 03:10 PM
Finance Minister Vicente Bengoa traveled to Washington yesterday to sign a US$25 million funding agreement with the World Bank, which will be used in the implementation of a youth development program. Listin Diario reports that the Dominican co-funding contribution is US$8 million, which would total US$33 million, approximately RD$1.1 billion at the current exchange rate. The program aims to promote education and employment and will be implemented by the Ministry of Labor in cooperation with the Ministry of Youth and the Technical-Professional Training Institute (INFOTEP). The loan will be paid back in 17 years, with a five-year grace period.
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