US$37 million for housing.US$37 MILLION FOR HOUSING. The Inter-American Development Bank Inter-American Development Bank (IDB)international organization founded in 1959 by 20 governments in North and South America to finance economic and social development in the Western Hemisphere. (IDB (ITS Data Bus) An interface between devices in an automobile endorsed by the Society of Automotive Engineers (SAE). Designed to fulfill the goal of Intelligent Transportation Systems (ITS), the ITS Data Bus enables engine diagnostic equipment, GPS navigation systems, ) announced the approval of a US$37 million loan for housing construction and upgrades in marginal communities, reports DR1 Daily News (March 23, 2004). Some 14,000 households would benefit directly during the first phase of the program, which will be carried out by the Instituto Nacional de la Vivienda (INVI), a governmental housing agency, together with state-owned mortgage bank Banco Nacional Banco Nacional was a bank from Brazil. It was taken over by Unibanco in 1995. The Nacional brand is better known as main sponsor of Ayrton Senna during most of his racing career in Formula 1 (1985-1994). de Fomento de la Vivienda y la Produccion (BNV). The loan is for a 20-year term with a four-year grace period, at a variable interest rate. Local counterpart funds A counterpart fund is a technique for turning foreign aid into reserves of domestic currency. They were used by the UNRRA, and the Marshall Plan in the rebuilding of Western Europe after the Second World War, and today remain a common technique for delivering developmental will total $4.2 million during the first stage of the program. The IDB may provide a US$63 million loan for the subsequent phase. Details: IDB. Tel: 202-623-1000. |
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