Approved loans for disaster for US$ 44 MMposted on: Jun 27 2012 4:12 by RDugey. Viewed 124 times.
The House of representatives yesterday approved two loans for 44 million dollars to finance the project of emergency recovery, risk management, and payment of insurance for catastrophic natural disasters emergencies.
One of the conventions of borrowing is $24 million, and will be used to pay off the impact of a catastrophic natural disaster could have on public finances.
The initiative was the favorable report of the Finance Committee, who heads the reformist Deputy for Santiago Marino Collante.
Loans were granted by the Inter-American Bank of development (IDB) and will be used to partially cover the financial and operational costs of the ease of insurance the insurance policy issued by parametric type in favor of the State.
Also provide coverage of up to one hundred million dollars to cyclones and earthquakes of intensity catastrophic.Meanwhile,
the loan of US$ 20 million is to support the Government in the financing of the costs associated with the repair and rehabilitation of the infrastructure affected by the passage in the country of storms Noel and Olga, in 2007. The loan set two components, the rehabilitation and management of risk in the water sector, and in the electricity sector.
Adds that the funds to be used will be invested to restore and strengthen priority works adversely affected in the areas of irrigation, electricity, drinking water and sewerage, and reduce the risk of damage to future storms.
Sets the project to strengthen the core capacity of response of the Dominican Corporation of State electric companies (CDEEE) and the National Institute for water resources (Indrhi).
The loan will be amortized in semi-annual installments in a repayment term of 25 years, with a grace period of 4.5 years.
the Deputies sent to Commission a resolution of the incarnation July Member asking Finance Minister Daniel Toribio, to explain the fate of funds approved in the budget supplemental education in the year 2011, up to 4,300 million pesos. The initiative also exposes that they were approved two billion dollars of the original budget for the education sector in 2011, "but so far they have not transferred to the account of the Ministry of education".
Other part approved by members and declared emergency is the sectoral law of biodiversity, which would make it possible to quantify and identify native plants and extinction, and Vivant them.
Initiative was reintroduced by legislators Juan José Rosario, Yudelka of la Rosa, Salomon Garcia Ureña and Antonio Bernabé Colon.