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.
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.
The credit will be designated for the improvement of the electricity distribution network in the country.
The IDB will make available $ 1.000 million over the next four years to develop infrastructure and energy projects.
The funds are to be used for the rural production reactivation program and for poverty alleviation programs for Nicaragua's poorest.
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