IDB Approves $130m DR Loan

The IDB has approved an 18-year, $130m senior secured loan for Dominicana de Vías Concesionadas, also known as Dovicon. The funds are expected to be used to rehabilitate 199 kilometers of roads that are part of its Viadom toll-road concession, which connects major cities in the Dominican Republic, as well as for 68 kilometers of new construction. Though approvals have not yet been finalized, the loan is expected to bring together a diversity of multilateral and bilateral institutions as well as commercial banks. The IDB and the company declined to elaborate further on pricing or conditions.