Deputies approve US$615 million in loans
After extensive debates on the draft Penal Code and its amendments, the Chamber of Deputies rushed through three loans totaling $615 million in the early hours of the morning.
Although yesterday's session was extensive, exceeding 16 hours of uninterrupted work, the representatives of the Modern Revolutionary Party (PRM) took advantage of the meeting and their overwhelming majority to vote on the debts without the presence of the opposition, which left the session when the Penal Code bill was approved on second reading around 3:00 a.m. today.
The first loan, for US$35 million, was signed with the Andean Development Corporation (CAF) and is intended to finance the Eastern Salinity Barrier Aqueduct Expansion Project and its transfer to Santo Domingo Norte.
The project will be carried out by the Santo Domingo Water and Sewer Corporation ( Caasd ), with the aim of expanding and optimizing the drinking water supply system in that area.
The second financing , for US$380 million, was contracted with the Inter-American Development Bank (IDB) and will be allocated to Phase II of the Universal Sanitation Program in Coastal and Tourist Cities of the Dominican Republic, under the responsibility of the National Institute of Drinking Water and Sewerage ( Inapa ).
This project , according to the document read by the deputies, seeks to expand the coverage of sanitation and wastewater treatment services in the country's tourist destinations.
The third loan approved, also with the IDB, amounts to US$200 million and will finance the Bridge Infrastructure Climate Resilience Program , which will be implemented by the Ministry of Public Works and Communications (MOPC).
The program focuses on strengthening the country's response capacity to extreme weather events through the construction, rehabilitation, or reinforcement of bridges.
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