The World Bank announced yesterday that they had approved US$10 million in loans destined for Aeropuertos Dominicanos Siglo XXI (Aerodom). The International Financial Corporation, an entity of the World Bank that specializes in projects related to sustainable development within the private sector of developing nations, will oversee the loan. The financing consists of a US$45 million loan by the IFC, a syndicated loan of US$15 million headed by the Mediterranean Savings and Loan Agency of Spain and a parallel loan for US$40 million from Export Development of Canada. Aerodom currently manages the Las Americas (Santo Domingo) and Gregorio Luperon (Puerto Plata) airports in the Dominican Republic, which handled approximately 3.8 million passengers last year, 50% of all passenger traffic in the Dominican Republic. The company also is responsible for the Arroyo Barril (Samana) and Maria Montez (Barahona) airports that see very little traffic. Part of the funding is to be used to advance on the El Catey airport, scheduled to serve the Playa Grande and Samana tourist traffic. The financial package will support a US$265 million investment program to expand and improve the airports.