Panama gets USD 20m IDB loan for grids, renewables in rural areas

Apr 22, 2014 - The Inter-American Development Bank (IDB) said Monday it had approved a loan of USD 20 million (EUR 14.5m) to finance rural electrification in Panama through new power lines and off-grid renewable energy systems.

Panama will use the funds through a government programme that aims at providing electricity to over 100,000 households, mostly in poor and remote areas, as well as to 107 schools and 21 health centers.

The programme will support the installation of small hydroelectric units, wind turbines and solar photovoltaic systems.

The loan includes USD 10 million from IDB for 25 years, with a 54-month grace period, and USD 10 million from the China Co-financing Fund for Latin America and the Caribbean. Panama will provide an additional USD 2.3 million.

(USD 1 = EUR 0.724)

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