NewsWhore
06-15-2011, 03:30 PM
After intense, often heated debates, the Chamber of Deputies authorized taking on loans for a total of EUR251.5 million, approximately RD$13.6 billion. El Nuevo Diario reports that the funds will be used to complete the first phase of the second line of the Santo Domingo Metro. The loans will finance the purchase of rolling stock, electro-mechanical installations and other expenses for the first phase of the second line.
Deputies from the ruling PLD and some of the allied Reformist (PRSC) party deputies voted in favor. Deputies from the PRD and a few allies from minority parties voted against the loans.
PRD spokesman Nelson Arroyo said that it was a shame that deputies were deciding to increase the foreign debt on such an historic date, the 14 of June, which commemorates national sovereignty. Deputy Juan Hubieres, himself a transport union leader, told the chamber that each day some 700,000 people move about Santo Domingo in cars, motorcycles, public cars and buses, while the Metro is transporting under 25,000 people a day and is costing US$100,000 per day in electricity, a cost that will increase when the second line is built.
The deputies approved the loans from the BNP Paribas Fortis Bank, Citibank Europe PLC, KFW and Deutsche Bank, S.A.E., all European commercial banks. The loans are for EUR109.2 million, EUR71.1 million, EUR44.9 million and EUR26.3 million, approximately RD$13.6 billion.
More... (http://www.dr1.com/index.html#1)
Deputies from the ruling PLD and some of the allied Reformist (PRSC) party deputies voted in favor. Deputies from the PRD and a few allies from minority parties voted against the loans.
PRD spokesman Nelson Arroyo said that it was a shame that deputies were deciding to increase the foreign debt on such an historic date, the 14 of June, which commemorates national sovereignty. Deputy Juan Hubieres, himself a transport union leader, told the chamber that each day some 700,000 people move about Santo Domingo in cars, motorcycles, public cars and buses, while the Metro is transporting under 25,000 people a day and is costing US$100,000 per day in electricity, a cost that will increase when the second line is built.
The deputies approved the loans from the BNP Paribas Fortis Bank, Citibank Europe PLC, KFW and Deutsche Bank, S.A.E., all European commercial banks. The loans are for EUR109.2 million, EUR71.1 million, EUR44.9 million and EUR26.3 million, approximately RD$13.6 billion.
More... (http://www.dr1.com/index.html#1)