Development Bank Approves $90 Million For Santo Domingo Historic District Restoration; Brian Major; TravelPulse
The Inter-American Development Bank (IADB) this week approved a $90 million loan to finance continued renovation of historic, public and tourist infrastructure in the Zona Colonial district in Santo Domingo, the Dominican Republic’s capital.
The new funding will “help recover public spaces and historical monuments, improve living conditions for residents, develop [the] local economy and strengthen historical area management,” according to an IADB statement. The financing supplements Dominican Republic government initiatives launched this decade to restore streets, buildings and public streetscapes across the historic district, a UNESCO World Heritage site.
The project will also provide assistance to residents of the district by assisting 200 low-income households with “gentrification dynamics,” said officials. Other plan aims include the restoration of historic facades, traditional squares, the historic city wall and adjacent public spaces.