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US$76 MILLION FOR ELECTRICITY SECTOR.
0 Comments | Caribbean Update, November, 1998
The Inter-American Development Bank (IDB) has approved two concessional loans totaling US$76.13 million to support the electricity sector in Nicaragua, reports Xinhua News Agency (September 30, 1998). The program will improve the reliability and efficiency of electricity supply, and prepare for future connection to the Central American Electric Interconnection System.
The resources will also support the Government's effort to restructure the Empresa Nicaraguense de Electricidad and to privatize or capitalize the distribution companies created as a result of the restructuring. The Government of Norway is considering US$2.5 million in cofinancing. Local counterpart funds total US$9.03 million.
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