IDB Loans $80m to Uruguay

The IDB has approved a loan of up to $80m to Uruguay so it may improve its sewer service. An initial loan of $43m will be used by the country’s National Water Supply and Sanitation Administration and the IDB could approve additional financing for a total of $80m. The loan is for 25 years with a 4-year grace period and an adjustable interest rate. It will be disbursed over a four-year period. Local counterpart funds for the program total $39.5 million.