$249 Million Loan for Hydroelectric Dam

With a loan from BCIE, the construction of the Montegrande project will be completed, consisting of a multipurpose dam on the Yaque del Sur riverbed in the Dominican Republic.

Tuesday, April 10, 2018

The project consists in the construction of a multipurpose dam on the bed of the Yaque del Sur river, in order to control floods, provide water for drinking water, as well as water for agricultural irrigation and the development of aquaculture and tourism activities. 

From a statement issued by the CABEI:

Santo Domingo April 9, 2018.- The Executive Vice President of the Central American Bank for Economic Integration (BCIE), Attorney Alejandro Rodríguez Zamora and the Minister of Finance of the Dominican Republic, Donald Guerrero Ortiz, signed a credit agreement for US $249.6 million for the Multiple Project of the Montegrande Dam, Phase III. 

The project will allow for: 
• Increasing the country's water storage capacities.  
• Developing works for the control of water flows, prevention of floods and minimization of damages caused by natural phenomena.
 Increase in the amount of water for agricultural activities. Development of new irrigation areas with efficient use of water with the expansion of approximately 18,936 hectares.   

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