The Senate ratified a further US$400 million in loans on Wednesday, 15 October 2014. The funds will be used to build and improve highways. The first loan for US$200 million will be spent on rebuilding the highway between the Cibao and the south west, from Piedra Blanca to Cruce de Ocoa. The other US$200 million will be used on financing the Pontezuela Ecological Corridor in the province of Santiago. Both projects will be implemented by the Ministry of Public Works, as reported in El Nuevo Diario. Financing will be provided by the Banco Nacional de Desenvolvimiento Economico y Social (BNDES), the Brazilian export promotion bank. BNDES has financed highways built by the Brazilian company Odebrecht. The road would be a stretch of the Cibao-Sur highway.
Updated onUpdated on Oct 23, 2014 at 5:21 PM