IDB, GPL sign US$34mn amended loan
Bnamericas Published: Friday, August 27, 2004
Guyana's state owned power company Guyana Power & Light (GPL) and the Inter-American Development Bank (IDB) signed an amended loan agreement August 26 for US$34.4mn that GPL will put towards rural electrification projects, local press reported. A US$27.4mn loan was originally approved in June 2002, but had to be redesigned after international investors withdrew from GPL and the state regained control. The first stage of the Un-served Areas Electrification Program (UAEP) involves bringing electricity to 12,000 houses. They are expected to come online as of January 2005.
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