Nicaragua receives $27 million loan for transformation and transmission projects
San Jacinto-Tizate, geothermal power plant, Ram Power/ Polaris Geothermal Nicaragua (source: Ram Power)
Alexander Richter
13 Dec 2011
Nicaragua receives US$27 million loan from Korea for transformation and transmission projects involving renewable energy, including geothermal.
Reported from Nicaragua, “The Government of Nicaragua and Korea, signed a loan of US$ 27 millions that will fund projects of transformation and transmission of renewable energy such as wind, geothermal and hydroelectric power in various parts of the Central American Country.
The signing took place between the Minister of Foreign Affairs of Nicaragua, Samuel Santos and his counterpart Kim Sung Hwan, as part of the celebration IV High Level Forum on Aid Effectiveness, held in Korea in the which involved nearly 3,000 delegates from around the world.
The loan term is 40 years, with 10 year grace period and 0.1% interest.”
Source: El Nuevo Diario (in Spanish)
