2023-04-27 01:31:30
San Jose, 26 apr. The Central American Bank for Economic Integration (CABEI) opened a line of credit for 150 million dollars to strengthen the operational management of the state-run Costa Rican Electricity Institute (ICE), the Government reported on Wednesday.
The Presidential House explained that it is a revolving line of credit that aims to meet working capital needs, such as payments to suppliers, the development of the 5G telecommunications network, supplies, counterparties for investment projects, periodic or routine maintenance of the infrastructure. and other operating expenses.
“The operation is of great relevance for CABEI, since it constitutes the first line of credit for a decentralized public entity in Costa Rica,” said the head of the country before the financial organization, Álvaro Alfaro.
Alfaro highlighted that CABEI maintains with ICE “a historical relationship to develop various projects for electricity generation, fiber optics and platform 3Gamong others, that today improve the quality of life of Costa Ricans”.
The president of ICE, Marco Acuña, said that the credit line is open for short-term needs and that disbursements can be made in colones (Costa Rica’s local currency) to avoid differences in the dollar exchange rate.
“We can count on immediate capital, such as for the deployment of 5G technology while we obtain the final financing,” Acuña said.
ICE is the state electricity company and is also one of the main telecommunications operators in Costa Rica.
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