The Dominican Senate approved after two consecutive readings, the latest bond issue for RD$1.89 billion. The money raised will be used to pay off 50% of the 1999 bond issue. The legislation received the positive votes of 26 of the senators. The proposal now goes to the Chamber of Deputies for final approval before moving on tho the Executive Branch for the President’s signature. The 1999 bond issue was for RD$5.0 billion and was used to refinance the government’s debts with the private sector. Also passed was a World Bank loan for US$7.3 million that will be used to improve the transmission lines and return financial stability to the electric sector. The newly approved bond issue will run for four years and carry a 2% charge above the inflation rate.