NewsWhore
05-27-2011, 04:40 PM
The Fernandez administration will be using what is probably the most expensive financing available for public works and has secured congressional approval for commercial bank loans to fund the construction of the second line of the Santo Domingo Metro.
Yesterday, Congress approved proposals for loans for a total of EUR251.5 million (about RD$13.5 billion) that will be used for the second line construction. This is in addition to another loan package for EUR317 million also approved by Congress.
As reported in 7dias.com.do, funding was granted by the European commercial banks BNP Paribas Fortis, Citibank Europe PLC, KFW and Deutsche Bank, S.A.E.
Two of the loans, one for EUR109.2 million and another for EUR71.1 million will be used for manufacture, supply and installation of electromechanical equipment. A third loan for EUR26.3 million is said to be for financing other chapters needed by an entity only named as CESDE.
More... (http://www.dr1.com/index.html#2)
Yesterday, Congress approved proposals for loans for a total of EUR251.5 million (about RD$13.5 billion) that will be used for the second line construction. This is in addition to another loan package for EUR317 million also approved by Congress.
As reported in 7dias.com.do, funding was granted by the European commercial banks BNP Paribas Fortis, Citibank Europe PLC, KFW and Deutsche Bank, S.A.E.
Two of the loans, one for EUR109.2 million and another for EUR71.1 million will be used for manufacture, supply and installation of electromechanical equipment. A third loan for EUR26.3 million is said to be for financing other chapters needed by an entity only named as CESDE.
More... (http://www.dr1.com/index.html#2)