| Work Detail |
The Inter-American Development Bank approves a so-called Conditional Credit Line for Investment Projects (CCLIP) of 200 million dollars and a first individual loan of 50 million dollars.
The Inter-American Development Bank (IDB) has announced the approval of a so-called Conditional Credit Line for Investment Projects (CCLIP) of 200 million dollars and a first individual loan of 50 million dollars to support the decarbonization of the electricity sector in Honduras and the National Electric Energy Company of the Central American country.
In addition, the IDB reportedly also approved $5.1 million in non-reimbursable financing and $2 million in non-reimbursable financing for investments from the Strategic Climate Fund, as well as a $2.5 million grant from IDB CLIMA.
The program will directly benefit 1.9 million customers of the Honduran National Interconnected System by providing them with access to reliable and clean electricity, the statement said.
"It will also benefit Afro-Honduran women, indigenous peoples and youth in the projects area of ??influence through training in the construction and installation of photovoltaic solar systems, as well as workshops on gender," it added.
Among other actions that the granted credit will promote, it is highlighted that it will finance the development and implementation of disaster-resilient solar parks on the land of the substations or hydroelectric plants of the National Electric Energy Company, or the implementation of battery storage systems in the substations to guarantee a constant and efficient supply.
The IDBs first individual loan of $50 million has two components. The first tranche of $32.5 million will be amortized over 25 years, with a grace period of 5.5 years and an interest rate based on the Secured Overnight Financing Rate (SOFR). The second tranche of $17.5 million of concessional resources has a 40-year amortization period and grace period and an annual interest rate of 0.25%.
Finally, the $5.1 million in repayable financing from the Strategic Climate Fund has a repayment term of 30 years, a grace period of 10.5 years and an annual interest rate of 0.98%. |
