Dominican Republic eyes grid fix with US$600M from China

Santo Domingo.- The draft for the US$600 million financing agreed with China’s government last November in Shanghai to be used to rebuild the electricity grid isn’t ready yet.

They’re working on it however, according to government sources who revealed that a National Palace meeting dealt with the financing last week.

Currently the Dominican Government continues to work on the project to then send it to Congress and for the funds can enter the economy, through the State Electric Utility (CDEEE).

During the meeting in Shanghai, Dominican officials affirmed that the interest rate will be preferential and between 2% and 3%.

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