Country gets loan from Japan for geothermal power generation

The Japanese agency for international cooperation is loaning Costa Rica $560 million to develop geothermal electrical generation in Guanacaste.

Officials of both countries signed paperwork Tuesday to that effect, said the Ministerio de Relaciones Exteriores y Culto.

The loan, which will benefit the Instituto Costarricense de Electricidad, is for 40 years at 6 percent.The state electrical company is developing geothermal sites in the area of the Rincón de la Vieja volcano. So far there are three projects.

The Japanese agency is the same one that loaned money to the country to redo the metro sewers and build a treatment plant.

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