Costa Rica: $250 Million for ICE

Several hydroelectric plants will be remodeled with funds from an IDB loan, among other projects.

Tuesday, May 26, 2009

The Costa Rican Electricity Institute (ICE) will immediately receive $250 million as a loan from the Inter-American Development Bank (IDB). These funds are the first half of $500 million requested by the state from the IDB. The other $250 million will be used when necessary.

Leticia Vindas stated in an article in "The loan has an interest rate of 4.93%, a 25-year term, a five-year grace period and biannual payments. Pedro Pablo Quirós, ICE executive president, explained that the money will go toward remodeling the Cachí and Río Macho plants, hydroelectric projects such as Savegre and Pacuare and several substations, among other uses specified in an implementation program."

More on this topic

IDB Loans $200m for Hydropower Station in Costa Rica

October 2012

The loan has a maturity period of twenty years and is part of the $1.2 billion required for the construction of the hydroelectric plant Reventazón.

A statement from the Inter-American Development Bank (IDB) reads:

The hydroelectric plant project Reventazón, in Costa Rica, is to receive funding from the IDB

Panama to Receive $ 1.000 Million from IDB

March 2011

The IDB will make available $ 1.000 million over the next four years to develop infrastructure and energy projects.

Among projects to be developed is the improvement of the bay area in Panama City, programs to strengthen the energy sector, investments in sanitation and drinking water and programs which strengthen fiscal management.

Costa Rican Congress Approves $500 Million Credit

February 2009

The credit will be designated for the improvement of the electricity distribution network in the country.

Esteban Oviedo writes in "Congress approved yesterday, in its first debate, a line of credit of $500 million from the Inter American Development Bank (BID) for the electricity infrastructure of ICE.

IDB approves $90 million loan for Nicaragua

August 2008

The funds are to be used for the rural production reactivation program and for poverty alleviation programs for Nicaragua's poorest.

The president of the Inter-American Development Bank (IDB), Luis Alberto Moreno, expressed Sunday in Nicaragua their willingness to continue supporting the government of Daniel Ortega in energy development, rural production and food crisis relief projects.

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