Dominican Republic gets a US$600.0M loan from China
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.”