EIB Funds Clean Energy in the Dominican Republic
3 November 2010: The European Investment Bank (EIB) will provide US$37 million to finance high-voltage electricity transmission networks in the Dominican Republic, to enable power generated by new wind and hydroelectric power plants to be distributed across the country.
The project is expected to grant electricity access to over 100,000 people. The challenges of increased climate risk have been incorporated into the project with transmission lines able to withstand hurricane winds up to 230 km/h. Comprehensive environmental assessments for the project have also been completed to ensure minimal environmental and social impact.
The EIB, the long-term lending institution of the EU, supports the EU's cooperation and development policies in the African, Caribbean and Pacific (ACP) regions under the Cotonou Partnership Agreement between the EU and 79 ACP countries. [EIB Press Release]