The loan from the Inter-American Development Bank is aimed at developing the country’s power sector.

As reported by the institution, $152 million will finance investments in generation, transmission and distribution of electricity, and about $98 million will go to the Reventazón hydroelectric project.

“What is more, investment will be made in renewable energy projects and modernization of the Rio Macho hydropower plant to improve performance and its life span. In addition the transmission infrastructure will be strengthened and a new Electricity Control Center built, to meet the quality requirements of the Regional Electricity Market,” reports elfinancierocr.com.

The loan is over a 25 year term and has a LIBOR interest rate (currently 1.09%), and has a local counterpart of $47 million.

Source: ElFinancieroCR.com