Santo Domingo.-The Chamber of Deputies approved in single reading a contract of loan for 100 million dollars to finance a program that will be executed by the General Directorate of the Supérate Program.
This is the “Support Program for the Consolidation of an Inclusive Social Protection System in the Dominican Republic”, which would be directed by the head of improve yourselfGloria Reyes.
The loan, submitted by the Executive power and which will go to the Senate for consideration, was signed on November 15, 2022 between the country and the Inter-American Development Bank (IDB).
The initiative aims to improve the living conditions of the nation’s most vulnerable population by improving the response capacity of the Social Protection Network and supporting the creation of the new care component of the Supérate Program.
The program seeks to contribute to the consolidation and innovation of the Single System of Beneficiaries (SIUBEN) for the identification of beneficiaries; as well as to strengthen the operational capacity of the Supérate Program and support the beneficiary families of the other programs.
Also support the progressive formation of a care network as an integral part of social protection, by strengthening existing services and operational strategies under the Supérate Program (PS), the Institute for Comprehensive Early Childhood Care (INAIPI), the National Council for the Aged (CONAPE) and the National Council for Persons with Disabilities (CONADIS).
The country will pay 37 installments
The resolution of the loan contract indicates that it will accrue interest that will be paid semi-annually by the Dominican Republic, with an interest rate of 6 months.
The debt will be amortized by the country through the payment of 37 semi-annual installments, consecutive, and to the extent possible, equal. The last installment will be paid no later than 24 years, a term that will be counted from the date of signing the contract.
The agreement has a grace period of 5.5 years. Regarding commissions, the Dominican Republic will pay a commitment commission of one half (1/2) of 1% per annum, calculated on the undisbursed balances of the loan.
