Listin Diario reports that President Mejia is evaluating a list of 30 priority projects to get funding from the US$500 million sovereign bonds issue. The government has announced the resources will circulate in monthly allotments of US$40 million to avoid destabilizing the exchange rate. The Listin Diario says that prime candidates to get the first cash allotments are: Autovia del Este, the highway that links the Las Americas Highway with San Pedro de Macoris. Avenida de Circunvalacion de Santiago, the Santiago city bypass to the north. Carretera Santiago-Navarrete, the highway between Santiago and Navarrete leading to Puerto Plata. Universidad Autonoma de Santo Domingo, the state university where several buildings and sports facilities are under construction. High voltage power lines to connect the Northwest transmission line with Moncion Dam and supply power to the provinces of Santiago Rodriguez, Valverde, Monte Cristi and Dajabon. Listin reports that all the money will be deposited in the Federal Reserve Bank of New York. Funds will be disbursed over a 12 month period. The government reportedly will need to create a reserve in the 2002 National Budget to make interest payments of about RD$800 million a year. By law, the President must appoint a commission to supervise the money.
