The Inter-American Development Bank has given a $100 million loan to the Dominican Republic, Inter-American Development Bank reports. The loan, which is for a 20-year term, will include a five-year grace period and a LIBOR-based interest rate.

The newly-created Contingent Credit Facility for natural disaster emergencies will finance the operation for the Dominican Republic. The IDB has also helped the Dominican government create a national reserve fund for emergencies and develop a catastrophic insurance facility

Click here for the story from Inter-American Development Bank.