1997News

IDB financing sought for ports privatization plan

The Dominican government is negotiating with the Interamerican Development Bank (IDB) loans that would fund the rehabilitation of ports around the country. Technical Secretary of the Presidency Eduardo Selman met with a mission of the IDB at the National Palace to discuss the government plan to rehabilitate these ports under the concessionaire model, whereby private companies would make the investment and operate them for about 30 years in order to recover the investment. It was reported in the Listín that some RD$6,500 million are needed to remodel the ports of Haina, Santo Domingo, San Pedro de Macorís, Puerto Plata and Manzanillo.