The European Investment Bank (EIB) has granted Panama $211 million to part-finance construction and operation of hydropower plants on the Chiriqui river in western Panama. The three plants are Guanaca, Lorena and Prudencia and have a total installed capacity of 117.5 MW.
On completion, the plants will help to meet the rapidly growing electricity demand in Panama in an environmentally sustainable way.
The finance contract was signed in Luxembourg by Carlos da Silva Costa, EIB Vice-President and Mr Philippe Delmotte, Executive Director of the Gas de France-Suez Group for Central America.
Created in 1957, EIB is the long-term lending bank of the European Union and its task is to contribute toward integration, balanced development and economic and social cohesion of the EU Member States.
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