The Inter-American Develpment Bank (IADB) is considering a US$1.5 million loan to assist Costa Rica government utility Instituto Costarricense de Electricidad (ICE) in the development of the 622-MW Boruca-Veraguas hydroelectric project in the Grande de Terraba River Basin.
ICE has studied a Boruca project for many years, with Boruca-Veraguas a recent alternative to a 709-MW Boruca-Cajon proposal. Boruca-Veraguas is expected to have fewer social and environmental effects than the Boruca-Cajon version, ICE said.
The IADB loan would be part of an estimated US$4 million program to finance technical, social, environmental, financial, and institutional studies of the new alternative. The new studies would complement earlier feasibility studies of the project.
IADB said some international consultants already have been contracted and that others would be hired to assist with the program.
For information, contact Instituto Costarricense de Electricidad, Apartado Postal 10032-1000, Sabana Norte, San Jose, Costa Rica; (506) 2205656; Fax: (506) 2207865; Internet: www.ice.go.cr.