Economy May 17, 2018 | 3:08 pm

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US$549.0M in loans for dam, productivity breeze thru Senate


Santo Domingo.- In just one roll call the Senate on Wed. approved two loans of US$549.0 million to finance the productive sectors and the dam at Monte Grande (southwest).

The initiatives will now go to the ruling party (PLD) controlled Chamber of Deputies, where approval is expected.

The US$249.0 million loan will finance the construction of the dam, Phase III, which provincial senators Edis Mateo Vásquez (Barahona), Dionis Sánchez (Pedernales) and Manuel Paul (Bahoruco) noted that the communities had demanded the complex for over 10 years.

The second loan, from the Inter-American Development Bank, of US$300.0 million will finance a program to improve productivity and formal jobs across the country.

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