Honduras to Expand Port With Loans

The IDB has approved 2 loans worth $134.5m for Honduras to be used to expand Puerto Cortes, CentAm’s largest port. One of the loans is for $94m and has a 30-year fixed-rate loan with a 6-year grace period. The other one is for $40.50m, with maturity and grace period of 40 years, and a 0.25% percent interest rate. Both loans, which will finance about 60% of the cost of the project, will be disbursed in 4 years.