IDB Approves Honduras Grid Financing

The IDB has approved $48.5 in financing for Honduras to increase the capacity of its country’s power grid. The financing includes a $20m 30-year loan with a 5.5-year grace period and an adjustable interest rate and a $8.5m loan from the IDB fund for special operations, with a 40-year term and a 0.25% interest rate, the IDB adds. The program has been prepared on the basis of a second $20m IDB loan expected to be approved in 2009, the multilateral states.