Financing secured for project in Panama
November 1, 2011 - Fountain Intertrade Corp., a joint venture between Norwegian Agua Imara and Credicorp Group Inc, has secured USD 155 million in debt financing for the Bajo Frio hydropower project (58MW).
The 15-year term loan is arranged by the Netherlands Development Finance Company (FMO) (USD 47.5 million), and Norwegian commercial bank DnB NOR (USD 47.5 million). In addition French development finance institution PROPARCO (USD 35 million) and Deutsche Investitions- und Entwicklungsgesellschaft mbH (DEG) (USD 25 million) participated in the deal. 

Agua Imara is proud to announce that the Bajo Frio project now has its debt financing in place. The four financial institutions have all deep understanding and experience in international project finance. This ensures our commitment to the Panamanian society to have Bajo Frio in operation before the end of 2014”, said Einar Stenstadvold, CEO of Agua Imara. 
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