Sovereign Bags IDB Funds

The IDB has approved a $100m policy-based loan so Panama can consolidate reforms needed to ensure the sustainability of its energy supplies and reduce poverty. The loan is for a 20-year term with a 5-year grace period, and carries a Libor-based rate. The loan – the first in a series of 3 facilities planned for Panama’s energy sector – is from the IDB’s ordinary capital.