Dominican Chamber approves more than US$465 million in loans

Santo Domingo.- The Dominican Republic’s Chamber of Deputies approved two international loan agreements totaling more than US$465 million on Thursday, despite opposition from lawmakers of the People’s Force (Fuerza del Pueblo).

The first loan, valued at US$200 million, will finance the implementation of the country’s National Road Safety Policy through the Ministry of Public Works and the National Institute of Transit and Land Transport (INTRANT).

A second loan of US$265 million will fund the Yuna River Basin Management Plan, a project to be carried out by the National Institute of Hydraulic Resources (INDRHI).

Debate over the financing proposals led to heated exchanges between government and opposition legislators before both measures were approved in a single reading.

The loan agreements must now be reviewed by the Senate before becoming final.

The current ordinary legislative session ends on July 26. If no extraordinary session is called by President Luis Abinader, the National Congress will resume its work on August 16, Restoration Day.