IDB approves $ 130 million

The Inter-American Bank of development (IDB) yesterday approved a loan of US$ 130 million to the country to finance the construction, operation and maintenance of the network of toll roads called "Viadom".

Funds will allow the rehabilitation of 199 kilometres of roads, as well as the construction of 68 additional kilometers, reported the IDB said in a statement.

The awarded company will be the Dominican track bailout, and the project includes improvements on the road linking the capital Santo Domingo, Santiago and the tourist area of Puerto Plata.

Will be also built a bypass in the city of Santiago and an access road that links Santo Domingo with the southern cities of San Cristóbal and Baní.

"The project will help to improve connectivity in the country since Viadom is the main North-South axis of Dominican Republic, reducing journey times and facilitating activities" u000a"commercial", said Victor Salgado, head of the project of the structured and corporate finance department team.

The multilateral agency indicated that he is expected to create approximately 2,500 jobs during construction and 1,500 jobs during its operation.

Is the largest loan without sovereign guarantee granted by the IDB to Dominican Republic.

Viadom 2007 is part of the set of decisions that the Government of Dominican Republic implements in order to provide a stable and orderly growth potential,.

Is expected that the project will help with the development of various regions.

Share this article

Digg it!

del.icio.us

MySpace

Facebook

Fark

Reddit

Newsvine