November 27, 2017 |
The IDB has approved $524m in sovereign loans, granting $300m to the Dominican Republic, $160m to Jamaica and $64m to Bolivia.
Dominican Republic will use the policy-based loan to implement new financial regulations, getting lenders in line with Basel III requirements and write a bill to introduce credit unions to the country, according to documents from the IDB. The Caribbean nation will also use the money to draft new legislation for securities, insurance, factoring and PPPs, the IDB said. The
Multilateral lender grants a total of $524m in financing to the Dominican Republic, Jamaica and Bolivia