Lack of payment led to blackouts - No more money from the World Bank

DominicanToday.com - Electricity superintendent Francisco Méndez on Sunday said several factors have caused the latest spate of blackouts, which even affected the National Palace, but acknowledged that delays in payments to the power companies are among them.

He said an adequate flow of funds to the power companies must be maintained so they can buy fuel and supply the energy to the population.

“There was a delay in the financial flow which the Hacienda Ministry should’ve provided to the State-owned Power Companies to pay the debt. CDEEE administrator Celso Marranzini has already informed that between 30 and 35 million dollars were received which were distributed equally among the generators,” Méndez said, interviewed by Cristhian Jiménez on ColorVision.

World Bank: no more for CDEEE

DR1.com - The World Bank representative in the Dominican Republic, Roberto Senderowitsch, warned on Friday that the World Bank does not have any more funds available to finance the electricity sector. Minister of Hacienda Vicente Bengoa had said the government was considering applying for financing to improve the electricity sector.
Senderowitsch said: "There is a multiyear 4-year program for an amount estimated at US$500 million, and the World Bank has already disbursed US$150 million. The agreement has been in effect for half a year".
He said that the authorities could request the rest of the money in the original agreement. Earlier Bengoa had also mentioned the possibility of a bond issue to clear payments on arrears in the subsidies to power companies.

Go back | Date: 23 Feb 2010
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