$92.5 million for investment in Nicaraguan energy sector
The IDB will grant $92.5 million to Nicaragua for investment in the energy sector, the entity reported in a press release.
Wednesday, October 29, 2008
The funds will be used to invest in transmission, transformation and rehabilitation of the energy generation plants, the note given to the press pointed out.
The IDB has announced that it will invest $145 million in the transmission and rehabilitation of electric plants in Central America, an operation to which Mexico and Colombia may also be added.
The funds will be used to rehabilitate the Santa Barbara and Central America hydroelectric plants, the two main generators of renewable energy in the country.
The financial institution confirmed the release of the funds for 2011 to support projects in the power sector, transportation sector and budget support, among others.
"The region still needs to install at least 7,000 MW by the end of the decade and make investments of between $12,000 million and $18,000 million."
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