In a speech to the nation last night, President Leonel Fernandez announced a RD$3,500 million national reconstruction fund. The President said that the national priorities are the re-establishment of electricity and potable water services, maintaining appropriate food supply levels and solving the problems of the homeless. He announced that the government will assist 100,000 to rebuild their homes. He said the government will provide land in Santo Domingo, San Juan de la Maguana, La Romana and other affected cities for a massive plan of construction of housing for the victims of the hurricane. The Instituto Nacional de la Vivienda (INVI) is the government entity in charge of repairing and building the new dwellings. Through INESPRE, the government organization that normally distributes low cost food stuffs to impoverished Dominicans, the government is purchasing all crops from farmers for subsequent distribution. He said that at the same time the government is creating a special fund with a 12% annual interest available to farmers who want to plant emergency crops. In monetary areas, he said that the Central Bank Governor and the Technical Secretary of the Presidency and the Minister of Finances have been authorized to lobby before the governments members of the Club of Paris and the Venezuela Investment Fund for the reprogramming of the payments of the foreign debt guaranteed by the state. He said the government seeks from international financing organizations to reprogram disbursements of loans already granted for US$100 million. And at the same time secure with the Interamerican Development Bank US$200 million and with the World Bank, emergency financing of US$50 to US$75 million. He said that if the re negotiation is obtained, the government would have savings of US$128 million or RD$1,900 that would be used in the reconstruction of the nation. The government also announced a grace period of six months for businessmen with loans from FIDE and INFRATUR to make payments. These loans benefit the farming, agribusiness, industrial and tourism sectors, as well as small business. The companies will be able to use the approximately RD$200 million to repair or rebuild their businesses. He said that the Monetary Junta approved that the Banco de Reservas, the state commercial bank, provide RD$150 million in loans with favorable lending conditions to the farming sector.
