Uruguay, Argentina receive $800 million credit line

The Inter-American Development Bank (IDB) agreed to grant Uruguay and Argentina an 800-million-dollar credit line over 15 years for the development of the Pinturería Salto Grande hydropower complex.

The first loan from the credit line amounted to $150 million for both countries ($75 million for each country), with a repayment period of up to six years, according to IDB’s statement.

The project is expected to benefit over 17 million users of the interconnected electricity systems in Argentina and Uruguay. It has paved the way for future collaborations between Argentina and Uruguay.

Both countries are members of the Energy Integration System of the Southern Cone Countries, an initiative aimed at promoting regional power integration with Salto Grande at its core.