The Interamerican Development Bank approved the granting of a US$150 million guaranteed loan in favor of Cogentrix Energy of the US and Commonwealth Development Corporation of Great Britain. Money will go to the Compañía de Electricidad de San Pedro de Macorís. It will be used to help finance a US$318 million thermal combined cycle plant that will produce 300 megawatts. The project also calls for the construction of port facilities. First support of the IDB to a private company for the production of energy. It is expected that the success of this project may lead to other similar foreign investments.
