Taxi union and association members are benefiting from a government plan to incorporate 2,000 new vehicles into the public transport system. The first 100 units arrived and are being assigned. Beneficiaries need to hand in their old vehicle or make a RD$10,000 downpayment. The Banco de Reservas is financing the cars for an eight year period, with a 10% annual interest rate (car financing rates rarely have gone below 21% per year in the DR). The old cars are being sold to the Metaldom metalwork plant for scrap. The taxi owners are also getting a six-month grace. They are committing to make monthly payments of RD$1,900 or RD$63 per day.
