NewsWhore
11-02-2007, 03:00 PM
Treasury Minister Vicente Bengoa says that the government has a RD$1 billion fund at its disposal to tackle the problems caused by Hurricane Noel.
In mid-September this year, the government approved a supplement to the National Budget, authorizing RD$2 billion for a fund for national disasters. The funds were set aside from a surplus in tax revenues generated by the tax reform that was implemented in January 2007 and gave the government a windfall of resources.
Bengoa said that the Inter-American Development Bank (IDB) has donated US$200,000 and has opened a US$20 million line of credit for the DR. These funds will be used immediately. Bengoa said that another mission would be visiting the country to assess the possibility of disbursing additional funds. Bengoa added that the country is in a state of emergency and that a set of bills to secure the funds will be sent to Congress.
On Wednesday, President Leonel Fernandez gave the green light to centralized and decentralized government departments to make purchases over US$200 million without fulfilling tender requirements. A clause within the procurement law effectively allows the government to shed tender requirements in the case of national disasters. The facility will remain in effect for 30 days, according to Decree 627-07, issued yesterday.
More... (http://www.dr1.com/index.html#3)
In mid-September this year, the government approved a supplement to the National Budget, authorizing RD$2 billion for a fund for national disasters. The funds were set aside from a surplus in tax revenues generated by the tax reform that was implemented in January 2007 and gave the government a windfall of resources.
Bengoa said that the Inter-American Development Bank (IDB) has donated US$200,000 and has opened a US$20 million line of credit for the DR. These funds will be used immediately. Bengoa said that another mission would be visiting the country to assess the possibility of disbursing additional funds. Bengoa added that the country is in a state of emergency and that a set of bills to secure the funds will be sent to Congress.
On Wednesday, President Leonel Fernandez gave the green light to centralized and decentralized government departments to make purchases over US$200 million without fulfilling tender requirements. A clause within the procurement law effectively allows the government to shed tender requirements in the case of national disasters. The facility will remain in effect for 30 days, according to Decree 627-07, issued yesterday.
More... (http://www.dr1.com/index.html#3)