Dominican’s Second-Largest City Receives Water Project Bank Loan

About 330,000 residents of the second-largest city in the Dominican Republic will gain improved drinking water and reduce leak losses with a $25 million Inter- American Development Bank project loan.

The Santiago de los Caballeros project is expected to provide water service for at least 12 continuous hours a day for more than 200,000 people, the development bank said in a statement.

The funds will help finance improvements in service for 60 percent of the households in the Santiago metropolitan area, the IDB said. The 25-year loan with an interest rate based on Libor will replace pipes and renovate pumping systems.

To contact the reporter on this story: Randall Hackley in London at rhackley@bloomberg.net

To contact the editor responsible for this story: Randall Hackley at rhackley@bloomberg.net

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