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IDB gives Dominican Republic’s Colonial Zone a US$90M push

Santo Domingo.- The Dominican Republic will revitalize Santo Domingo’s Colonial City Zone) to support its tourism and urban development, with a US$90 million loan ¬†from the Inter-American Development Bank-IDB.

The IDB made the affirmation in a statement, and revealed the integration of 200 low-income families to the program that includes the recovery of facades, as well as an indirect incentive formula to provide affordable housing.

It said the financing will recover the traditional squares and the environs of the Colonial perimeter wall, including public spaces. “This, with the objective of improving economic opportunities, mainly of micro and small enterprises (SMEs), which will strengthen human capital training in tourism services.”

Moreover the historic Mercado Modelo will be refurbished and a cultural animation plan will be promoted, to be achieved with a public-private alliance.

In addition, Colonials structures such as the San Francisco Convent will be revitalized, museums and public spaces will be rehabilitated, including the installation of water mains, storm drainage, a sewage system, power and telephone cables, street paving, lighting, traffic signs and landscaping, prioritizing pedestrian traffic.

Source: DT

Dec 17, 2016

Category: DR News |

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Last updated March 29, 2017 at 11:04 PM
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