The Technical Secretary of the Presidency, Rafael Calderon spoke of the government taking out a US$200 million loan with the Interamerican Development Bank for social programs to be announced next week. The DR1 Daily News had reported the government would receive US$100 million. Clarifying, Calderon explained that US$100 million would be received in the first four to five months of the program. The money would permit the government to expand its social compensation program and strengthen international reserves. "We are negotiating with the IDB a project to expand the social policy of the government with a loan of US$200 million, of quick disbursement, that is within the next four or five months at the latest, if the IDB loan is approved, half of the money will be available," he said. Business sector spokesmen Ignacio Mendez and Antonio Espin said that they would only back the financing if the money was used for a national development plan and for productive purposes, not for short term solutions. Interestingly, on the same day, Pedro Franco Badia, who is administrative secretary of the Presidency, said on Hoy Mismo Color Vision television show that an international loan is not necessary to cover the government social programs. He said that the money for the social programs would be generated by the new taxes.
