Dom Rep to receive $75m Opec loan
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A loan worth $75 million (£38.3 million) is to be paid to the government of the Dominican Republic by the Organisation of Petroleum Exporting Countries (Opec), according to a website.
The payment is to cover road construction, waste treatment plants in tourist regions, aqueduct repairs and rural development in border provinces, reports the Dominican Today.
It states that $30 million (£15.3 million) of the total amount will be specifically allocated to the rebuilding and maintenance of the nation's highways.
Meanwhile, the International Finance Corporation (IFC), a member of the World Bank Group, announced in April it is to invest $33 million (£16.8 million) in the Dominican financial services holding company Centro Financiero BHD.
James P Scriven, IFC director for global financial markets for Latin America and Africa, said: "IFC is working in the Dominican Republic to promote best practices and increase access to finance for low and middle-income groups."
IFC stated its investment is intended to help the company become a model financial service provider in the region.
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