IDB lends US$100M for port in Dominican northwest
Santo Domingo.- The Inter-American Development Bank (IDB) on Thur. approved financing to develop Bahía de Manzanillo, whose construction will create thousands of jobs for the northwest of the country.
“The project promotes the economic and social development of the area, which will be reflected in significant savings for the productive area of the northern region, especially in maritime transportation due to its proximity to the East coast of the United States and land transportation for the producers in the northern part of the Dominican Republic,” the Presidency indicated in a statement.
The IDB loan is for US$100 million, said Lisandro Macarrulla, Minister of the Presidency. “The approval represents an important step for the completion of the project, which will include the complete repair of Manzanillo port, along with other works that will later be carried out as part of the complex.”