Santo Domingo. – Within 7 days the Dominican Government will receive US$100 million from the World Bank (BM) and the Inter-American Development Bank (I.D.B.), along with an influx of dollars and euros as tourists start arriving in the country for the holidays.

In effect, on December 6  the I.D.B. disbursed US$50.00 million to country for the Social Sectorial Project, deposited in the Central Bank, as the first payment of the US$150 million loan, allocated to support the reforms and programs in education, health and social assistance.

In its Web site the I.D.B says the program aims to make the institutional framework more efficient, “to promote the creation of a social protection network with more efficiency and effectiveness,” and seeks to provide the capacities and opportunities, so the poorest populations can overcome poverty.  

The program will support and seeks to reform the budget and public spending systems, to make them more efficient and to promote the decentralization in the benefit of the services, and to bolster the role of the municipalities.

As to the transactions with the World Bank, US$50 million is expected starting Tuesday. The funds are earmarked for the electrical sector and the World Bank said it expects to support the Government’s strategy to recover it.

As usual, the disbursement of these loans implies the accomplishment of several goals, institutional actions and improvements, which show the compliance with the programs’ objectives. The electrical part requires a rise in collections, as an indicator of improved financial management.