April 12, 2021 |
IDB Invest, the private sector affiliate of the Inter-American Development Bank (IDB), and Empresas Públicas de Medellín (EPM) have signed an amendment to a $900 million loan for the city-owned utility company to complete construction of the Ituango hydroelectric plant.
"This is a very relevant event because it reflects the confidence that IDB has in this project," EPM CEO Alejandro Calderón said in a video announcement on Friday.
IDB Invest and seven international lenders granted a $1 billion
Medellín's city-owned utility company is expected to turn on the first turbine at the hydroelectric plant in 2022