2009News

Borrowing for public works

The majority PLD party voted yes to three loans requested by the Presidency. These are the financing contract with the Brazilian export bank, BNDES for US$48,743,918 million for the construction of the Duarte Corridor, the overpasses to expedite north-south traffic in Santo Domingo. The project has a 21-month duration. Grupo Estrella from the DR and Odebrecht from Brazil are the contractors.

The Senate also approved a loan for US$20 million with the Deutsche Bank S A Espanola for use in the rehabilitation of the Duarte-Casabito-Constanza highway. And a EUR9 million 200 Euros with the French Development Agency for the expansion of the Plan Sierra, a reforestry project.