Venezuela Gets More CAF Support for Hydro

Venezuela will receive a $600m loan from CAF to finance the Tocoma hydroelectric project, the CAF said. The proceeds will fund a portion of the $3bn power generation project developed by state utility CVG Edelca on the Caroni river in the southern Venezuela. The deal marks CAF’s second loan for the 2.1 gigawatt project after $300m lent in 2004. The government hopes the project, to be complete in 2014, will increase the country’s generation by 15%.