Envoy: Dominican Gov can access UK £500M financing at 3.8%

Santo Domingo.- British ambassador Chris Campbell on  Thurs. said the financing available from the United Kingdom for the Dominican Republic of around 500 million pounds sterling through a MOU is cheaper than the open market, with a fixed rate of around 3.8% for 10 years and could be as high as 18 years with fixed interest, if it’s for renewable energy.

Quoted by diariolibre.com, the diplomat said the funds are available, for which the Dominican government has to set its priorities and compile all necessary documents to access the agreed funding.

“That was to give access to British funding to help with large infrastructure projects here in the Dominican Republic, so that was a direct request from the President to do something government-to-government to help, because in principle the President wanted to move many of the large infrastructure projects for the future and we organized this memorandum of understanding to give access to the Dominican government to British funding,” Campbell said.