Economy February 15, 2021 | 10:53 am

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Government’s 16 main projects top US$1.2B, 4.2B yuan

Santo Domingo.- The funds to execute the main investment projects stipulated in the 2021 Budget must be arranged in a particular way by the Finance Ministry, as most of those credits refer to international banking.

In terms of amount, the multilateral credit organizations must provide more than half of the financing calculated for those projects, which cover various sectors of the economy, such as water, electricity, transportation, and national security.

The global amount of the 16 projects tops US$1.2 billion and 4.2 billion yuan.

Of that estimate, the Inter-American Development Bank (IDB) has indicated six, for a total of US$571.03 million.

With the World Bank and the Andean Development Corporation (CAF), the Finance Ministry must arrange financing for US$123.5 and US$172.2 million, respectively.

The conditions of those credits, according to the mandate of the Budget Law, will be interest rates and commissions compatible with those in effect in the market for the Dominican Republic, and terms of 4 to 7 years.

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