The World Bank approved a new Country Assistance Strategy (CAS) for the Dominican Republic, which projects financial assistance of up to US$360 million between 2006 and 2009, as well as technical and advisory services.<\/p>\n
“After emerging from a period of crisis, the Dominican Republic’s medium-term growth prospects are generally good, but the country still faces a number of challenges to ensure that all Dominicans can benefit from growth and
\n development, especially the poorest,” said Caroline Anstey, the World Bank’s Country Director for the Caribbean. “The new assistance strategy will support the Government’s program with lending and analytical assistance to improve
\n growth and competitiveness and achieve greater social equity.”<\/p>\n
The CAS has three scenarios with different World Bank lending volumes and number of operations – low, base and high. The base case lending scenario includes seven
\n loans for a total of US$260 million over four years:<\/p>\n
* Institutional Strengthening Technical Assistance Project (US$10 million)<\/p>\n
* Social Sectors Investment Project (US$50 million)<\/p>\n
* Community Development Project (US$30 million)<\/p>\n
* Urban Territorial Development Project (US$20 million)<\/p>\n
* Water and Sanitation Adjustable Program Loan (US$20 million)<\/p>\n
* Energy Investment Project (US$30 million)<\/p>\n
* Power Sector Development Policy Loan (US$100 million)<\/p>\n
The high case lending scenario consists of these seven loans plus a Development Policy Loan of US$50 million to support public sector modernization, and an investment loan of US$50 million to support the second phase of the Water and<\/p>\n
Sanitation Investment Program, bringing the total lending envelope to US$360 million. In the low case scenario, resulting from a deterioration of portfolio performance and\/or a deterioration of key macroeconomic indicators, the Bank would support the first four projects from the list above for a total lending of US$110 million.<\/p>\n
According to a press release, the Bank’s assistance program will be complemented by support from the International Finance Corporation (IFC), focused on investing in tourism,
\n mining, free trade zone, and human resources development (health and education). In addition, the Multilateral Investment Guarantee Facility (MIGA) will work with project sponsors who are exploring long-term investments in the
\n country.<\/p>\n","protected":false},"excerpt":{"rendered":"
The World Bank approved a new Country Assistance Strategy (CAS) for the Dominican Republic, which projects financial assistance of up to US$360 million between 2006 and 2009, as well as technical and advisory services. “After emerging from a period of crisis, the Dominican Republic’s medium-term growth prospects are generally good, but the country still faces … <\/p>\n