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Tuesday, November 23, 2010

World Bank US$150M to boost Dominican Republic’s health, education

The World Bank Board of Directors on Tuesday approved a US$150 million loan to fund social protection areas, mostly education and health in the Dominican Republic.

The disbursement of the funds seeks to expand the human capital and improve the transparency and quality of public spending, a statement by the World Bank said.

The organization affirms that the funds will be used to support social policies through the Government’s Social Cabinet, to guarantee, the access to education, health and nutrition for more than 600,000 poor homes via the program Solidarity.

The document says the World Bank recognizes the Solidarity program advances in the transformation process now integrated within other social programs. It says the efforts of the Social Cabinet and the ministries of Health and Education are focused in the topics of improving human capital and narrowing the gap between the supply and demand in education, health and nutrition.

The World Bank cites Treasury minister Vicente Bengoa as saying that the disbursement is included in the Budget passed by Congress and that it will help close the fiscal year satisfactorily.

This is the second transaction in a package of three Loans on Performance by Results and the Rendering of Accounts in the Social Sectors, and stipulated in the World Bank’s Strategic Alliance with the country for the 2010-2013 period.

Source: Dominican Today

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