Costa Rican legislators last night
approved a plan to borrow us$500 million from the Banco
Interamericano de Desarrollo (BID) - Inter-American Development Bank
- to invest in the electrical grid and spur economic growth.
The funds from the BID, a Washington-based lender to Latin America
and the Caribbean, will go to the country’s state-owned utility, the
Instituto Costarricense de Electricidad (ICE) which is expected tol
use the funds to improve power grids and increase electricity
generation.
The bill has to pass second reading before it can become law.
