WB Working on Loans for DR

The World Bank is evaluating extending some $300m in loans to the Dominican Republic later this year, says Yvonne Tsikata, the multilateral’s director for the Caribbean. One of the loans, for $150m, will be a new facility to support the social sector. The second, for $150m, will support the government budget. The board of the WB still has to evaluate these loans, Tsikata adds. The WB in April approved a $27.5m loan to the country to improve water and sanitation in Puerto Plata. The line has a rate based on Libor, a 30-year repayment period and 5-year grace period.