DOMINICAN REPUBLIC - EDUCATIONAL CREDIT

FEC EXTENDS LOANS TO UNDERGRADUATE OR GRADUATE STUDENTS; AND OCCASIONALLY SHORT-TERM LOANSFOR SPECIAL TRAINING TO BUSINESSMEN AND PROFESSIONALS; OR FOR SPECIAL CULTURAL EVENTS (FOR COMPENSATION). PROGRAM ALSO PROVIDES ADMINISTRATIVE SUPPORT TO FEC; FOR FUND-RAISING, STUDENT-LIAISON ACTIVITIES, STUDENT TESTING AND SELECTION, COUNSELING OF STUDENTS AS TO AREAS OF STUDY. FEC"S PURPOSE IS TO PROMOTE SOCIO/ECONOMIC DEVELOPMENT OF DR BY HELPING PROVIDE NECESSARY HUMAN RESOURCES REQUIRED FOR DEVELOPMENT. THE APPROACH IS TO FINANCE STUDY IN ONLY THOSE ACADEMIC DISCIPLINES CONSIDERED IMPORTANT TO DOMINICAN REPUBLIC DEVELOPMENT, AND TO ASSIST STUDENTS LACKING FINANCIAL RESOURCES WHO, MEETING THE ABOVE CRITERIA, ARE UNABLE TO PURSUE THEIR EDUCATION. PROJECT ACTIVITIES INCLUDE: CONTINUING REVOLVING CREDIT PROGRAM, MAKING NEW LOANS, PROVIDING TA FOR MANPOWER SURVEY AT FEC, FOR MANPOWER TRAINING AND ADMINISTRATIVE HELP FOR FEC. IN ADDITION, FUND-RAISING WILL BE CARRIED ON AS NEEDED. GODR WILL PAY ITS SHARE OF OPERATING AND TRAINING EXPENSES AND BERESPONSIBLE FOR FOREIGN EXCHANGE DIFFERENTIAL. BENEFICIARIES WILL BE THE HIGHER EDUCATION STUDENTS, BUSINESS AND PROFESSIONAL PERSONS; AND SECONDARILY THE INSTITUTIONS AND COUNTRYTO WHICH THEY CONTRIBUTE. USAID PROVIDES 27% OF TOTAL FUNDS,CONTRACTS FOR TA TO HELP DOMINICAN REPUBLIC WITH MANPOWER SURVEY, HELP FEC WITH FINANCIAL ADVICE AND ASSIST WITH STUDY PROGRAMS OF STUDENTS WHO GO TO LATIN AMERICAN COUNTRIES OR TOUS. HOST COUNTRY GUARANTEES LOAN; PAYS FEC OPERATING EXPENSES AND COUNTS AS ITS CONTRIBUTION PL 480 FUNDS AND CONTRIBUTIONS FROM BUSINESS AND EDUCATIONAL ENTITIES.