Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Dominican Republic
Location: Santo Domingo
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • Inter-American Development Bank (IADB)
Status: Approved
Bank Risk Rating: B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2016-12-14
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: Dominican Republic
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Infrastructure
Investment Type(s): Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 90.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD): $ 90.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.

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Primary Source

Original disclosure @ IADB website
Updated in EWS: 2017-06-22
Disclosure Date: 2016-05-27
Integral Touristic and Urban Development Program of the Colonial City of Santo Domingo
IADB-DR-L1084

Project Description
The principal objective of the program is to revitalize the urban, economic, and cultural tourism aspects of the Colonial City of Santo Domingo (CCSD) by: (i) restoring public spaces and historical monuments, (ii) improving habitability for residents, (iii) developing local economies, and (iv) strengthening the management of the CCSD. The activities to be financed include consulting services, training, systems, equipment, and works. The program is classified as a category B operation, as it may cause localized adverse environmental and social impacts of short duration, for which effective mitigation measures are available. The potential risks and adverse social and environmental impacts are: (i) damage to the cultural heritage, (ii) temporary economic damage to businesses, (iii) complaints from the community, and (iv) an increase in social problems related to tourism, especially those that affect vulnerable groups.
Investment Description
This specific investment loan has a total cost of US$90 million, of which the IADB will finance 100% from its Ordinary Capital resources. Disbursements will be made over a period of six years, in keeping with the comprehensive and multisector nature of the intervention and the multiple actors participating in execution.
Contact Information
ACCOUNTABILITY MECHANISM OF IADB The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IIC)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IIC is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).
Bank Documents