U.S. $1.5 billion in Inter-American Development Bank projects for Dominican Republic

The Inter-American Development Bank (IDB) has US$1.52 billion available in funding with sovereign guarantees for the Dominican Republic for the period 2013-2016, said IDB country representative Flora Montealegre Painter.

She said they also have technical assistance and loans without sovereign guarantees available for the private sector. The funds are part of the new work strategy for the country that seeks to stimulate growth that is compatible with the creation of quality jobs for a sustained reduction in poverty levels. She said the IDB’s work in the country was based on productive development and investing in human capital.

The IDB is prioritizing the electricity sector, and is making funds available for helping find solutions in the area of distribution, telemetering and loss reduction.

The IDB is prioritizing the electricity sector, and is making funds available for helping find solutions in the area of distribution, telemetering and loss reduction.

As reported in Listin Diario, the IDB has a portfolio of 94 projects ongoing in the Dominican Republic with US$1.8 billion approved and disbursals pending for US$910.2 million.

They include seven operations for US$287.3 million in direct lending to the private sector, 34 donations for US$35.1 million for technical cooperation and 26 projects for US$10 million from the Multilateral Investments Fund (MIF). This is in addition to 27 loans for US$577.9 million with sovereign guarantees.

They include seven operations for US$287.3 million in direct lending to the private sector, 34 donations for US$35.1 million for technical cooperation and 26 projects for US$10 million from the Multilateral Investments Fund (MIF). This is in addition to 27 loans for US$577.9 million with sovereign guarantees.

Montealegre concluded by saying that the country also benefits from the private sector support programs funded by the Inter-American Investment Corporation (IIC).

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