The Latin American Development Bank (CAF) approved a US$97 million loan to the Dominican Republic to partially finance the expansion of the Greater Santo Domingo aqueduct system. The resources will partially fund the Santo Domingo East Aqueduct Expansion Project and is also aimed at expanding and optimizing the Santo Domingo North aqueduct system.
CAF indicated that this project will contribute to improving the quality of drinking water service and living conditions for approximately 850,000 inhabitants in the urban area of the municipalities of Santo Domingo Norte and Santo Domingo Este.
The loan was approved during a board meeting held by the multilateral in Panama City.
During the last five years (2014-2018), CAF approvals for the Dominican Republic reached US$296 million. Of these amounts, 59% corresponds to sovereign risk. At the end of 2018, CAF’s portfolio in the Dominican Republic reached was US$207 million.
CAF began in 1970 as the Andean Development Corporation with a focus on investing in Andean countries. It later expanded to the rest of Latin America and the Caribbean and changed its name to the Latin American Development Bank. It consists of 17 Latin American and Caribbean countries, Spain and Portugal, and 13 private banks. The Dominican Republic joined in 2004 and became a full shareholder in 2018. In 50 years CAF has approved US$175 billion in development projects, according to data from the institution.
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CAF
5 December 2019