CABEI will support the Costa Rican Electricity Institute (ICE) in strengthening its operational management capacity to benefit 850,000 people.

San José, April 26, 2023 - TheCentral American Bank for Economic Integration (CABEI) approved a credit line for US$150 million in order to continue supporting the Republic of Costa Rica's electrical sustainability and strengthen the service offered by the Costa Rican Electricity Institute (ICE).

The funds will finance the working capital needs of the state-owned company, which will be able to use them, among other uses, for the maintenance and renewal of machinery and equipment of the institution's systems, which include 24,007 kilometers of distribution lines and 2,447 kilometers of transmission lines for the benefit of 850,000 people.

"This operation is of great relevance for CABEI, as it is the first credit line for a decentralized public entity in Costa Rica and we are proud that it has been approved for the ICE, with whom we have a historic relationship that has allowed us to develop iconic electricity generation projects using renewable sources that today contribute to making the country's matrix almost 100% clean, playing a fundamental role in the development of the country's communities and competitiveness," said CABEI's Executive President, Dr. Dante Mossi.

CABEI has historically been a strategic ally of the ICE by financing various initiatives such as the Reventazón Hydroelectric Project, the expansion of the Cachí plant, the Las Pailas Geothermal Project, and the Electric Works Program, among others.

The operation is framed within CABEI's Institutional Strategy, specifically in the social development and competitiveness strategic axes, focusing on the energy area, contributing to economic, social, and environmental development.