The Inter-American Development Bank (IDB) has approved a $300 million policy-based loan to support Dominican Republic’s efforts to boost productivity and tackle the challenges hampering industrial growth.
The funds will help implement reforms in three major areas:
The program is expected to help modernize and consolidate the financial system in the medium term; promote labor and corporate formalization; diversify production; boost value added domestically; and increase exports.
This loan operation is the second in a programmatic series that aims to provide medium-term support to the program of productivity reforms carried out by the government.
The loan carries a LIBOR-based interest rate and has a 20-year repayment term, including a 5-year grace period.
About the IDB
The mission of the Inter-American Development Bank (IDB) is to improve lives. Founded in 1959, the IDB is one of the main sources of long-term financing for economic, social and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research and provides consulting services about policies, technical assistance and training to public and private clients across the region.
Principal Economics Specialist
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