Brussels, 04/11/2010 (Agence Europe) - On Wednesday 3 November, the European Investment Bank decided to finance high-voltage electricity transmission networks across the central and southern regions of the Dominican Republic to the tune of US$112 million. This project will enable power generated by new wind and hydroelectric power plants to be distributed to the rest of the country and enable over 100,000 people to access electricity for the first time and improve the quality of electricity supply. The EIB also agreed to provide €7 million for rural microfinance projects in the Dominican Republic. The loan will be redistributed by Banco de Ahorro y Credito ADEMI, which will also make €7 million available. The funding is aimed at micro enterprises and SMEs. “The European Investment Bank's enhanced support for rural microfinance in the Caribbean reflects our commitment to improving access to financial services by poor communities around the world,” said Plutarchos Sakellaris, EIB Vice-President responsible for the Caribbean. (O.L./transl.rt)