NewsWhore
10-27-2006, 03:50 PM
The Dominican Republic could receive nearly US$500 million in loan disbursements from multi-lateral organizations to support the electricity sector, the reform of the public administration sector and social investment in health and education. US$150 million would be provided by the World Bank (WB), after the government settles a US$46 million debt with electricity generating companies and the International Monetary Fund (IMF) signs a letter of agreement in which it expresses that the country's macro-economic situation is under control. The country will also be receiving US$100 million from the Inter-American Development Bank, according to reports in Hoy newspaper. Speaking at the Washington DC headquarters of the World Bank yesterday, President Leonel Fernandez said that the Dominican Republic will do it can to make the necessary reforms so that the country can receive the US$150 million from the WB.
According to a report in Diario Libre, Technical Presidential Minister Temistocles Montas assured the funds for the payment of the debt with the generating companies have already been identified and the IMF letter would be issued within the next week, when its mission currently in the DR completes its work. The official expects that the conditions will be ready for the disbursements to begin in the first half of November. The first two disbursements will be US$50 million each. Montas made these pronouncements after a meeting between President Leonel Fernandez and World Bank president Paul Wolfowitz, to analyze the conditions necessary for the loan that was signed in mid-2005.
More... (http://www.dr1.com/index.html#3)
According to a report in Diario Libre, Technical Presidential Minister Temistocles Montas assured the funds for the payment of the debt with the generating companies have already been identified and the IMF letter would be issued within the next week, when its mission currently in the DR completes its work. The official expects that the conditions will be ready for the disbursements to begin in the first half of November. The first two disbursements will be US$50 million each. Montas made these pronouncements after a meeting between President Leonel Fernandez and World Bank president Paul Wolfowitz, to analyze the conditions necessary for the loan that was signed in mid-2005.
More... (http://www.dr1.com/index.html#3)