Nov. 26 (Bloomberg) -- 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.
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