Minister of Hacienda, Limon Lizardo Mezquita has reported that he has received offers from banks and agencies of foreign governments to finance the Santo Domingo Metro 2 East extension and a coal-fired electricity generation plant. According to the Nuevo Diario, the minister said that the generator would be a 720 megawatt unit, and that there were offers for other projects as well.
The minister had just returned from the 55th Annual Meeting of the Assembly of Governors of the Inter American Development Bank (IDB) and the 29th Annual Meeting of the Assembly of Governors of the Inter American Investment Corporation (IIC) that were held in Brazil. The meetings dealt with issues related to the economic and social development in Latin America and the Caribbean.
According to the press release from the ministry, the Italian Export Credit Agency (SACE) expressed interest in investing in the construction of the coal-fired 720 MW generator at a cost of US$500 million. The Medina administration has already committed nearly US$2 billion for the construction of two 300 MW coal fired units. SACE will present the Dominican government their proposal in the near future.
In addition, the Japanese International Cooperation Agency has expressed interest in participating in a project aimed at stimulating energy efficiency in the Dominican Republic. Similarly, the BNP Paribas of Brazil offered funding for participants in its “Investment Academy”.
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