The government has taken out a loan with the Central American Bank for Economic Integration (CABEI) to carry out the third phase of the Monte Grande multipurpose dam on the Yaque del Sur riverbed that will cost USD$249.6 million. The loan agreement was signed by Finance Minister Donald Guerrero Ortiz representing the Dominican state and Alejandro Rodríguez Zamora, executive vice president of CABIE.
The loan will enable the construction, located in the province of Barahona, to be completed and will guarantee the irrigation of 18,936 hectares. The agricultural production will be improved through irrigation from the new dam.
In addition to water for agricultural irrigation, Monte Grande will also increase the supply of drinking water, control floods, contribute towards the generation of electricity and develop aquaculture and tourism activities.
The works will generate more than 2,500 direct jobs during the construction phase, 12,500 new permanent jobs in agriculture and enable more than 1,500 indirect jobs to be created in non-agricultural activities.
It will take three years to complete and will be carried out by the National Institute of Hydrological Resources (INDHRI).
During the signing of the agreement, also present were Olgo Fernández, director of INDHRI and senators Eddy Fernando Mateo of Barahona and Manuel Antonio Paula of Bahoruco, as well as the director of BICE for the Dominican Republic, Clara Quiñones and Rodrigo Vargas, director general for Andrade Gutierrez in the Dominican Republic.
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BCIE
11 April 2018
