November 24, 2022 |
The Inter-American Development Bank (IDB) said it approved a $125 million loan to build a power line to connect the electrical grids of Ecuador and Peru.
The IDB said it expects the European Investment Bank (EIB) to lend a similar amount to the 500-kilovolt transmission line, which will make it easier for the two countries exchange surplus electricity.
The IDB loan will finance construction of 280km of transmission line on the Ecuadorian side of the border. The loan has a 23-year term with a 7.5
US-based development bank approves a $125 mln loan to connect the two countries' electrical grids