IDB Funds Modernization of Hydroelectric Plants in Brazil and Renewables in Nicaragua
28 July 2011: The Inter-American Development Bank (IDB) has approved a US$128 million loan to Brazil to refurbish two large hydropower plants, and a US$22 million loan to Nicaragua to improve access to electricity and supply of renewable energy.
The loan provided to Brazil will allow two hydropower plants to continue operating beyond 2040.
The loan to Nicaragua is the second provided by IDB to fund the country's National Sustainable Electrification and Renewable Energy Programme. The loan will provide reliable electricity to populations and support the construction of 214 kilometers of new transmission lines that will carry renewable energy resources, such as wind and geothermal. Funding will be provided for renewable energy generation initiatives and energy efficiency programmes. [IDB Press Release (Brazil)] [IDB Press Release (Nicaragua)]