IDB Inks $40m Loans for DomRep Electricity

The IDB has approved a $40m loan to the DomRep to enhance its electricity distribution networks. The floating rate loan has an amortization period of 25 years and a grace period of 4 years. The loan will help power companies Edenorte, Edesur and Edeste upgrade priority distribution circuits to reduce losses caused by deficient equipment and materials. The program was designed in coordination with the World Bank and the OPEC Fund for International Development, says the IDB.