May 21, 2018 |
Costa Rica's legislative assembly approved law last week authorizing Instituto Costarricense de Electricidad (ICE) to secure a $500m loan from the IDB, according to a statement from the state-run utility.
The Central American government's Ministry of Finance is guaranteeing the debt.
By approving Law 19.998, ICE can obtain a conditional line of credit for investment projects (CLCIP), which helps develop, modernize and expand Costa Rica's power infrastructure.
This includes the 55 MW Borinquen ge
State-owned utility ICE will use $500m to expand the Central American nation's power infrastructure