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View Full Version : Government wants to borrow more from Brazil



NewsWhore
09-07-2011, 03:50 PM
The Fernandez administration seeks to borrow an additional US$285 million from the Brazil export finance bank, BNDES. The Executive Branch sent bills with the loan approval requests to be studied by Congress where the ruling party is majority.

The government says the money will be used to build the Hermanas Mirabal aqueduct (US$50 million), rebuild the El Rio-Jarabacoa road, build the Sabana de la Mar port and rehabilitate the Bavaro-Uvero Alto-Miches Sabana de la Mar road (these two US$185 million) in the east.

The construction would be allotted to the Brazilian firm Constructora Norberto Odebrecht and Servicios de Equipos de Ingenieria, S.A. and Sinercon. Odebrecht has been a major beneficiary of government contract work during the Fernandez administration.

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