Dominican gets $42m loan for energy services
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The Dominican Republic is set to receive a $42 million (£21 million) loan from the World Bank to help improve energy services for customers.
Energy distribution companies in the EdeNorte, EdeSur, and EdeEste regions of the Caribbean country will be able to provide a better quality service and increase coverage for their customers thanks to the Electricity Distribution Rehabilitation Project.
The scheme is part the World Bank's wider strategy to increase economic growth in the Dominican Republic.
In related news, several renewable energy projects in the country have been approved and have secured funding, according to Dominican Today.
The projects are now awaiting the publication of the Special Regulation of Renewable Energy Sources Development Law and they are expected to start producing renewable energy and biofuels next month.
National Energy Commission president Aristides Fernandez told the news provider: "This is a priority for Dominican Republic which has President Leonel Fernandez's initiative and commitment and we're convinced of their immediate viability, so we guaranteed the country it will happen as of next month."
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