The Inter-American Development Bank (IDB) plans to invest between $3bn and $4bn to finance power projects in a number of Latin American countries, according to a report in Business News Americas.
Santiago Levy, one of the vice-presidents of the IDB, revealed that the projects to be financed will have to meet energy efficiency targets and utilize clean energy, such as solar power facilities.
According to a news report, the IDB will grant a loan of EUR729 646 (US$1m) to a Nicaraguan company so that it can execute a project that provides electricity to the rural areas of that country.
Experts estimate that around 35 per cent of the population in Nicaragua does not have access to the commercial electricity networks.
Related story: Rural electrification project in Nicaragua
For more Project Investment news.