NewsWhore
07-23-2007, 04:30 PM
President Leonel Fernandez received John McAdams, senior vice president and head of export finance for US Ex-Im Bank and legal advisor Howard Schweitzer and Americas relations manager Dwight W. Herow, at the Presidential Palace on Friday. US Ex-Im Bank is a US government export-financing agency that guarantees commercial bank loans for US exports. The officers were accompanied by US Embassy charge d'affairs Roland Bullen and Ellen Dunlap of the US Embassy. As reported by the Presidency, the President and the Ex-Im Bank officers discussed future government-contracted projects that could be carried out with Exim Bank guarantees.
In the past government, US Ex-Im Bank has financed several controversial purchases in the DR. One of the most recent was that for a commercial bank loan for US$61 million for the construction 115 multi-use sports installations nationwide. No tender was held for the purchase and the credentials of the company that received the millionaire financing were extensively questioned in the local press. Today, with very few exceptions, the sports facilities that were built are abandoned structures planted all around the Dominican Republic. One of the principals of this venture is today accused of involvement in a major drug dealing-venture being heard in a New York City court.
During the Mejia administration, the Dominican Republic became the Ex-Im Bank's second largest market worldwide. Records show that as of US government fiscal year 2002, Ex-Im Bank had authorized US$788 million in financing for projects -- medical equipment, telecommunications, oil & gas, electricity, transportation, environmental, and manufacturing equipment and services.
The Fernandez administration has also taken on several BNDES supported loans, offered by the Brazilian export-financing agency.
More... (http://www.dr1.com/index.html#1)
In the past government, US Ex-Im Bank has financed several controversial purchases in the DR. One of the most recent was that for a commercial bank loan for US$61 million for the construction 115 multi-use sports installations nationwide. No tender was held for the purchase and the credentials of the company that received the millionaire financing were extensively questioned in the local press. Today, with very few exceptions, the sports facilities that were built are abandoned structures planted all around the Dominican Republic. One of the principals of this venture is today accused of involvement in a major drug dealing-venture being heard in a New York City court.
During the Mejia administration, the Dominican Republic became the Ex-Im Bank's second largest market worldwide. Records show that as of US government fiscal year 2002, Ex-Im Bank had authorized US$788 million in financing for projects -- medical equipment, telecommunications, oil & gas, electricity, transportation, environmental, and manufacturing equipment and services.
The Fernandez administration has also taken on several BNDES supported loans, offered by the Brazilian export-financing agency.
More... (http://www.dr1.com/index.html#1)