The European Investment Bank has agreed to loan the Dominican Republic $37m USD in order to finance high-voltage electricity transmission networks across the central and southern regions of the Dominican Republic. The project will use power generated by wind and hydroelectric power plants and will enable over 100,000 people in rural locations to access electricity for the first time.
The construction will also lead to employment opportunities during construction.
Dominican Republic Finance Minister Vicente Bengoa and European Investment Bank Vice President responsible for the Caribbean, Plutarchos Sakellaris signed the agreement under which the European Investment Bank will provide $37m for the electricity transmission scheme.
