Wednesday, December 17, 2014

Uruguay to implement new program to boost investment in production and renewable energies

The Inter-American Development Bank (IDB) has approved a $250 million credit line for investment projects in Uruguay, as well as the first individual operation as part of it -- $125 million to promote investment in infrastructure and productive investment by providing medium- and long-term financing through the Bank of the Republic.

This first individual loan corresponds to the so-called Financial Program for Productive Development. Its specific goals are to finance investment in electric power plants using renewable energy sources, essentially wind and solar, so as to diversify the country’s energy mix and cut CO2 emissions, and to finance agricultural investment in irrigation projects and upgrading of the citrus-growing sector.

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