IDB US$78.0M loan aims to revamp Dominican Republic’s electric grid
Washington.- The Inter-American Development Bank (IDB) on Friday announced the approval of a US$78.0 million loan to modernize Dominican Republic’s electric grid and cut energy losses.
The funds form part of the Electricity Sector Integral Plan 2013-2016 which ”aims to secure the full business cycle, including not only rehabilitation of networks, but also metering, billing and collection for energy supplied,” the IDB said .
Despite the progress in electricity distribution in recent years Dominican Republic continues having “a weak performance in its operation with electricity losses,” averaging 33% by yearend 2013, well above international efficiency standards .
The entity said the problems affect the financial sustainability of the electricity distribution companies (EDEs), for which the project aims to ”relieve the tax burden of the sector and improve the country’s productivity.”
Total losses are expected to be reduced by at least 10% to take it to 33.1% at yearend 2013, and down to 23.1% in 2017.
Category: DR News |