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close this book Sustainable energy News - No. 8 March 1995
View the document Acknowledgments
View the document Editorial: Environment, Energy and Social Development
View the document Outcome of the Social Summit
View the document Social Summit NGO Forum
View the document Regional News - Africa
View the document Regional News- Europe
View the document Regional News - Asia
View the document Rethinking Development Assistance for Renewable Electricity
View the document Private Power a! Jamaica
View the document World News
View the document Regional News- North America
View the document Garbage- Recycling- Hygiene
View the document Danish Support for Windturbines in Cuba
View the document Self-Production of Rapeseed Oil for the "rapeseed car"
View the document Publications
View the document Events
View the document Sustainable Energy Tour 1995

Private Power a! Jamaica

An innovative financial arrangement involving the Jamaican government, the Interamerican Development Bank (IDB), and the World Bank will enable a private company to build a 60-MW diesel power plant in Kingston, Jamaica.

The IDB and private banks are giving 120 million US$ of guarantees for the private company during the 5-year construction phase. The guarantees enable the company to issue bonds with a lower interest rate than it could without them. The commitment by the IDB is only for 40 million US$, which leaves it with more capital for other projects than a normal loan arrangements would. After 5 years, the company can get loans from the Jamaican government. This will be possible due to loans from IDB and the World Bank.

The private company is made up of a consortium of US companies, and the power plant will only use fossil fuel.

Source: The IDB (newsletter of IDB).