Dominican Republic: World Bank Approves US$80 Million for
Infrastructure Rehabilitation and Disaster Management
Available in: Espa=F1ol
Press Release No:2008/298/LCR
Contacts:
In Santo Domingo: Alejandra De La Paz (809) 566-6815
adelapaz@[EMAIL PROTECTED]
Wa****ngton: Patricia da Camara (202) 473-4019
pdacamara@[EMAIL PROTECTED]
May 1, 2008=97The World Bank Board of Directors today
approved an US$80 million loan for the Dominican Republic to sup****t
the country=92s recovery efforts after Tropical Storms Noel and Olga.
=93We have responded positively to the Dominican government request for
sup****t, because we understand the adverse social and economic impact
that this kind of natural occurrences have in the countries of the
region,=94 said Yvonne Tsikata, World Bank Director for the Caribbean.
=93This financing will sup****t the government=92s efforts to alleviate the
conditions of thousands of affected families,=94 Tsikata added.
The Emergency Recovery and Disaster Management Projectwill finance
rebuilding and restoring physical assets in the electricity,
irrigation and water supply sectors. In addition, it will sup****t
measures to mitigate potential effects of future emergencies.
At the end of 2007, the Dominican Republic was hit by two unexpected
tropical storms that left thousands of families homeless. The storms
also damaged crops and destroyed roads, bridges, as well as im****tant
electricity infrastructure and irrigation systems. In that sense, the
new loan will contribute to the rehabilitation efforts and to
strengthen the management capacity of key government institutions.
The new initiative seeks to:
* Restore irrigation, electricity, water, and sanitation
infrastructure damaged by Tropical Storms Olga and Noel; and
* Improve the capacity of the National Institute of Hydraulic
Resources (INDRHI) and the Dominican Cor****ation of State Electrical
Companies (CDEEE) for future risk management.
By the end of the project, it is expected to restore the functioning
of services in targeted project areas, and improve disaster risk
management systems for irrigation, water resources management, and
electricity.
This US$80 million fixed-spread loan from the International Bank for
Reconstruction and Development (IBRD) is repayable in 30 years,
including five years of grace.
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For information on this project, please visit:
http://web.worldbank.org/external/projects/main?pagePK=3D64283627&piPK=3D732=
30&theSitePK=3D40941&menuPK=3D228424&Projectid=3DP109932
For more information on the World Bank=92s work in the Dominican
Republic, please visit: http://www.worldbank.org/do
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