Economy November 6, 2018 | 7:37 am

Dominican Republic gets a US$600.0M loan from China

Punta Catalina

Shanghai.-  State Electric Utility (CDEEE) CEO Ruben Jimenez Bichara on Monday announced a US$600.0 million government-to-government loan through China’s Exim Bank, to improve the energy distribution system and lower losses by 28%.

He said the loan at a 2 to 3% rate, also reduces energy theft and improve “the country’s entire energy system.”

Meanwhile president Danilo Medina denied that the government is seeking Chinese investors for the Punta Catalina coal-fired power plant, and noted that it’s a State project.

He also denied that a free trade agreement with China was negotiated. “We must be very careful, because this involves the Dominican business community” and the Chinese produce very cheaply.”

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