US$64M cleared for GPL improvements
-830 km of distribution network to be rehabilitated with IDB/EU funds
As announced recently by the Guyana Power and Light (GPL), the IDB and the EU have put together a US$64M financing programme to cut the utility’s losses among other areas.
The Power Utility Upgrade Programme (PUUP) is the latest in a series of expensive financing packages for the utility which has struggled for decades to tame line and commercial losses without much success.
An Inter-American Development Bank (IDB) press release issued yesterday said that the bank has approved loans totalling approximately US$37.6 million and has also secured non-reimbursable investment financing from the European Union (EU) to the tune of US$26.9 million to “help boost the efficiency and reliability of Guyana’s power system through electricity loss reduction measures, improvements in the …..To continue reading, login or subscribe now.