WASHINGTON, November 11, 2008- The following project was approved today by the World Bank’s Board of Executive Directors: IBRD Loan: US$50 Million Dollars TERMS: Maturity = 15 years; Grace = 5 years Project Description: The additional financing has the same fundamental objectives as the original Renewable Energy in the Rural Market Project, namely: (a) to provide rural areas of the participating provinces with reliable electricity supply in a sustainable manner using renewable energy technologies, when feasible; (b) to support studies by the borrower of critical energy sector issues; (c) to assist in the development of sustainable business operations for rural energy in Argentina; and (d) to strengthen private sector participation in the provision of electricity in rural areas and to strengthen the capacity of provincial governments to regulate private sector participation. The additional financing will help finance the costs associated with the scaling up of activities to enhance the development impact of the project in the period 2008-2011. Media Contact Gabriela Aguilar Martinez (202) 473-6768 gaguilar@worldbank.org For project documents, please visit: http://web.worldbank.org/external/projects/main?pagePK=64283627&piPK=73230&theSitePK=40941&menuPK=228424&Projectid=P110498 |
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