2003News

New loans approved

Loans valuing a total of US$341.6 million were approved by Congress yesterday. Deputies voted in favor of the loans, which are to be partially spent on the construction of aqueducts in seven provinces (Santiago, Duarte (San Francisco de Macor?s), La Romana, San Crist?bal, Barahona, Bahoruco and Independencia). Portions of these funds are also destined for the purchase of buses for the Pan American games to be held in Santo Domingo in August. The other main issue on the table was the Mining Reform Law (146), which will set the scene for the Rosario gold mine in S?nchez Ram?rez (Cotu?) to be taken over by Canadian company Placer Dome for a 25-year concession. These negotiations take place two days before the arrival of Canadian Prime Minister Jean Chr?tien, who will inaugurate the start of construction works on the aqueduct for the southern provinces. The mining concession question will be the main theme of discussions with the Canadian leader during his three-day state visit.