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Inter-American Bank lends $250 million to Costa Rica

Wednesday, June 27, 2012

Costa Rica will receive $250 million from the Inter-American Development Bank to strengthen the country's electricity sector.

The funds will be used to improve competition and the population's quality of life. About $98 million will go to the Reventazón hydroelectric project, which is currently 40 percent complete after construction of a 130 meter dam began in 2009.

Demand for electricity is expected to increase by 5 percent each year, which is why the plan includes installing 1,714 megawatts from 2012 to 2024.

Full story (in Spanish)