In order to “respond to the urgent need” to increase the transport capacity of the Line 1 the Santo Domingo Subwaythe Executive power sent to the Chamber of Deputies another contract of loansigned with the French Development Agency (AFD), amounting to 86 million euros.
The agreement, signed on December 9, was sent to the Chamber of Deputies on February 2 by President Luis Abinader, who stressed that the project seeks to guarantee its sustainability and satisfy the growing demand for travel, improving the quality of service of the existing public transport network. In addition, he adds that the project will respond to the agglomeration of the Santo Domingo Subwayreinforce and consolidate its public transport system.
The loan It will be amortized in 40 semi-annual installments, it has a five-year grace period and the last installment will be paid in 2046.
Prior to the first disbursement, the government will pay a one-time evaluation fee of 0.5 percent of the nominal amount of the loan. loan and in addition, you will pay a commitment fee of 0.5 percent per year applicable to undisbursed amounts.
The agreement of loan It was signed by José Manuel Vicente (Jochi), Minister of Finance, and Philippe La Cognata, of the French Development Agency, and witnessed by Lisandro José Macarrulla Tavárez, Minister of the Presidency.
In operational mode the extension of the subway It will be in charge of the Office for the Reorganization of Transport (OPRET), attached to the Presidency of the Republic.
Other loans
Two other loans for the same purposes are registered in the Legislative Information System (SIL) of the Chamber of Deputies and the Senate.
The first is addendum no. 1 to the credit agreement, signed on December 30, 2019 with the French Development Agency (AFD) for an amount of 50 million dollars or its equivalent in euros.
Saying loan would be used to finance the project to increase the transport capacity of the line 1 the Subway Santo Domingo.
The initiative was forwarded by the Executive power on June 18, approved in a single reading in the Chamber of Deputies on July 28 last year and in the Senate on October 5 last.
Meanwhile, a second credit agreement was signed in 2019 with the French Development Agency (AFD) for an amount of 44,976,162.63 euros with the same objective.
