DR1 Daily News - Dominican Republic

The Chamber of Deputies approved US$625 million in loans for the Executive Branch during the session of Wednesday, 23 October 2024. The use of the funds is contemplated in the 2025 National Budget.

The funds will be allocated to various government initiatives, primarily focused on addressing climate change and improving the nation’s electrical grid.

The approved loans are:

• US$300 million from the Inter-American Development Bank (IDB): Contract No. 5806/OC-DR was signed on 12 December 2023 and will be used for the Climate Action Program for Sustainable Economic Growth.

• US$100 million from the French Development Agency (AFD): Credit agreement CDO 1107 01 k had been signed on 30 April 2024 and will provide budgetary support for the Climate Action Program for Sustainable Economic Growth.

• US$225 million from the International Bank for Reconstruction and...