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Honduras checks terms for $50 million Chinese loan for Patuca III hydro scheme

Monday, June 27, 2011

The Chinese Eximbank loan for the Patuca III hydroelectric scheme has been agreed in principle, though the terms have yet to be reviewed, said William Chong, the Honduran finance minister.

Chong said that “some people” are trying to persuade President Porfirio Lobo to abandon the project.

According to Chong, the government has $50 million available from Petrocaribe to finance hydroelectric projects. In April, the government signed a $50 million contract for $50 million for Patuca with China’s Sinohydro.

Original source (in Spanish): El Heraldo