Venezuela, DR Snag IDB Loans

Venezuela, DR Snag IDB Loans

Bonds Structured Finance Venezuela Dominican Republic Loans

The IDB has approved a $700m loan to finance the modernization of the turbines of Venezuela's Guri hydroelectric project, increasing power by 795MW. Venezuela will contribute a total of $609m in counterpart funds to the project, which will have a total cost around $1.3bn. The IDB loan is for 20 years, with a 6-year grace period and an interest rate based on Libor. Separately, the IDB has approved a $120m loan to the Dominican Republic to help enhance competitiveness. The IDB financing consists o

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