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IADB approves $500 mln loan for Dominican Republic
WASHINGTON, Oct 21 (Reuters) - The Inter-American Development Bank on Wednesday approved a $500 million loan to support social programs and to streamline energy subsidies in the Dominican Republic.
"The country will use the IADB financing to increase spending on targeted subsidies, education, health care, and the Solidarity Program, a conditional cash transfer plan for the poor," the IADB said in a statement.
"In addition, the government plans to use the loan to better target payment of liquefied petroleum gas subsidies and streamline electricity subsidies," it added.
(Reporting by Lesley Wroughton; Editing by Diane Craft)
