Aerodom's IDB Loan Guarantee for El Catey Airport, Samana

Jasper

Jasper

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Jan 10, 2002
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http://www.iadb.org/dominicana/BOLETIN 31 Mayo 2003.pdf

judging by page 3 of this link, it looks as though it is official that the guarantee is a done deal. i heard that work recommenced a few weeks ago at El Catey, though I did hear that work won't go at "full tilt" until IMF bailout terms are agreed-to and bailout is signed.

If anyone else has any other news or can confirm that work has begun again, then please let us know.
 
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Andy B

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Jan 1, 2002
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www.elmarinique.com
I passed by 10 days ago and the site was deserted, not even a guard posted at each entrance. There was no visable activity nor any tire tracks in evidence indicating anybody had passed through the deserted gates.

Although you and I have discussed this at length, I still have my doubts about this project. I just hope Aerodom does something soon, either finish and open Arroyo Barril or get serious about el Catey. Arroyo Barril could be up and running tommorrow as a regional airport catering to limited international flights originating in much of the Caribbean, northern South America and the southern US. It wouldn't take much to do this and would provide a much needed boost to Samana's tourist-based economy.
 
Jasper

Jasper

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Jan 10, 2002
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El Catey

Thanks for update Andy. Hope you're doing well. I heard from an insider in the deal that the IDB/Aerodom was 2 days away from closing the financing when the Baninter collapse happened. He was entirely serious. IDB apparently has frozen all funds to DR until government accepts terms of IMF. So all deals such as this are on ice - even though IDB already accepted as a guarantee of U$150 million as you can see from link above. I was also told that the IDB/Aerodom financing can be closed within 2 weeks from signing of IMF deal. I have my doubts that an imf deal will even be signed before a new government is elected as I doubt that our the PRD government will sign the accord and lay off all those non-essential "bureaucrats". They will likely just keep delaying it as long as they can. So yes, we will likely be old men when we can fly to our own airport.
 
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