Dominican Republic eyes US$500M in loans for transport, road safety
Santo Domingo.- The Dominican Republic is wagering on two new loans with international organizations of US$500 million to transform mobility, land transport and road safety.
The agreements in the Chamber of Deputies were signed with the Inter-American Development Bank (IDB) and the French Development Agency (AFD) to execute programs that would consolidate safe and efficient land transportation through major reforms. The programs were coordinated under co-financing, following agreements signed between AFD and the IDB on March 20, 2019.
In the case of the IDB, the loan would be paid as of May 15, 2024 and the last installment would be disbursed on May 15, 2039, it has a grace period of 4 years and 5 months, as well as an estimated rate of 1.16%. It would accrue interest that would be payable semi-annually with a rate based on LIBOR at three months plus the funding margin and the IDB loan margin.