Economy February 14, 2020 | 8:58 am

Medina submits US$155M loan from IDB for electricity sector

Santo Domingo.- President Danilo Medina on Thur. submitted to Congress a US$155 million loan from the Inter-American Development Bank to be allocated to the electricity sector to “increase the operational efficiency” of the distributor Edesur.

According to the contract signed Oct. 21, 2019 between the State and the IDB, “the specific objective is to support the implementation in EDESUR of the first stage of the Master Plan for the Expansion of the Distribution System (PMESD).”

The loan, introduced via the Senate on January 23, has as its main component the construction and habilitation of new substations and their grids, at a cost of US$63.45 million.