Word Bank US$150M to meet Dominicans’ needs in crisis

Santo Domingo.- The Dominican Government will use financing for US$150 million, previously contracted with the Inter-American Bank for Reconstruction and Development (IBRD) of the World Bank Group, to meet the needs of the Dominican population affected by coronavirus.

After the declaration of the State of National Emergency on March 19, 2020, the Finance Ministry, in coordination with the Ministry of Economy as coordinator with the World Bank, decided to request the first disbursement of the Disaster Risk Management Policy Development Loan with the Deferred Disaster Disbursement Option (CAT-DDO), which functions as a contingent credit line of up to US$$150 million to provide “timely liquidity to the Dominican State to respond to emergency situations such as the one the country is in today.”

“The resources received will be freely available to support the budget of the Central Government,” the Finance Ministry said.