2008News

Taking on more foreign debt

The Senate is studying the approval of nine international loans that would increase foreign public debt to the tune of US$309.7 million.

The loans include:

US$93.7 million to purchase 8 Super Tucano jet planes from Brazil.

US$80 million for the construction of a set of libraries and the new National Archives.

US$60.9 million to finance the Las Placetas hydroelectric dam. That project is being constructed through the State Run Electric Companies (CDEEE).

US$19.4 million to finance the Social Projection Investment Project.

US$14 million loan pending for the Social and Economical Development Program.