Bolivia Secures $100 Million from IDB for Hydro Plant

LA PAZ – Bolivia has received a commitment from the Inter-American Development Bank, or IDB, for a $100 million loan to finance the construction of a hydroelectric plant in the central part of the country, President Evo Morales said.

The plant is part of the Misicuni project in the province of Cochabamba, where Morales on Saturday inspected the construction of a dam to provide water to the same-named city before leaving on a trip to Switzerland and Spain.

IDB chief Luis Alberto Moreno committed the institution to the project intended to generate 100 megawatts, although the loan must still be approved by the international financial organization, Morales said.

Bolivia is very close to being able to export energy because there are places along its rivers where hydroelectric plants can be built to increase the production of electricity by 2,000 MW, the president said.

The Andean nation’s power plants currently produce 1,070 MW to fulfill nationwide demand of 940 MW.

The announcement of the plans to increase electricity production came three days after the government took the first formal step toward taking state control of three generating plants, which are being financed by domestic and foreign private capital.

An executive order issued last Wednesday allows the state-owned power company ENDE to take control of the shares that were administered by two pension funds in the name of the Bolivian citizenry.

ENDE will now control between 47 and 49 percent of Corani, Guaracachi and Valle Hermoso, firms that have as private partners investors from France, Britain and Bolivian businessmen, respectively.

Source: Latin American Herald Tribune

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