The Board of Directors of the Inter-American Development Bank approved two loans for a total amount of US$360 millions for the Dominican Republic.  The first loan for US$300 millions is directed to the local commercial banks within the program of liquidity for the support of the private sector development, and the second loan for the amount of US$60 million is for budget support, a programmatic policy based operation to increase productivity and competitiveness. The Minister of Finance, Vicente Bengoa Albizu, presented the characteristics of the US$300 million loan that includes an amortization period of 5 years, 3 year grace period, variable interest rate (LIBOR + 400 basis points) and a disbursement period of 12 months. In addition, the US$60 million loan has an amortization period of 20 years, a 5 year grace period, an interest rate based on LIBOR and a disbursement period of 12 months.