France Considering Financing Second Metro Line in Santo Domingo

France Considering Financing Second Metro Line in Santo Domingo
Santo Domingo, 10/16/2010

The French Development Agency (AFD) is studying the possibility of helping the Dominican Republic with the construction of the second Metro line of Santo Domingo, a promise made by French President Nicolas Sarkozy in 2009 when Dominican President Leonel Fernández was visiting France.

The AFD initiative also deals with environmental issues and global warming.

The information was released by Louis Jacques Vaillant, Director General of the Latin America and Caribbean Department of the French Development Agency. He revealed the possibility that some 250 million Euros will be included in the national budget for 2011, according to the Presidential Office of Information, Press and Publicity.

Of this amount, between US $80 million to $100 million dollars will be earmarked for the transit project of Santo Domingo which will include the building of the second Metro line as well as urban development and housing.

The AFD initiative also deals with environmental issues and global warming.
A French mission is in the Dominican Republic to study this possibility and to provide follow-up to the commitment made by the President Sarkozy to President Fernández.

Jacques Vaillant confirmed that they will work in what will be their strategic future in terms in investment for the Dominican Republic, given the positive financial balance in both the public and private sectors.

Vaillant indicated that the AFD has supported the banking and financial sector as well as the infrastructure projects involving highways and private entities in the social and educational areas. He said the French Development Agency supports micro-finance institutions which he believes play an important role in the country.
Speaking at a press conference in the Orlando Martínez Hall of the National Palace, Luis Jacques Vaillant said the mission will continue with the addition of more pronounced actions for the public sector. 

To that end, he said they will put France’s experience at the service of the important sectors in the DR such as water and hygiene as well as urban and local development which can benefit from France’s knowledge of decentralization.

He also said that the last point in the reflection on economic support from France to the DR will be studied for next year, when they will know more about the level of financing to the various sectors, both public and private.