The Dominican Government signed an agreement with the Interamerican Development Bank for a US$149,000 donation that will be used to finance studies leading to the reform and modernization of university-level education in the DR. Signed by Technical Secretary of the Presidency Juan Temístocles Montás and the IDB representative in the DR, Stephen E. McGaughey signed the agreement at the National Palace. The money will be used to hire consultants and purchase equipment necessary for the program. The Consejo Nacional de Educación Superior (Cones) will implement the program. Cones is carrying out a study to determine the local personnel and labor needs of Dominican companies.