IDB Invest lines up US$80m loan for JPS grid recovery

Power utility Jamaica Public Service Company Limited (JPS) aims to secure US$80 million, about J$12.7 billion, from the private-sector arm of the Inter-American Development Bank Group (IDB) for liquidity purposes and Hurricane Melissa restoration works, according to project disclosures. “The proposed transaction consists of a corporate loan of up to US$80 million to JPS to provide liquidity required by the company,” stated the IDB disclosure on the proposed loan. “The financing will have a tenor of up to three years.”