The Costa Rican Electricity Institute (ICE) could see a rise in cash flow for investments in infrastructure, thanks to a loan approved this week by the Inter-American Development Bank (IDB).

The bank will make a $381 million loan, meant to refinance part of the debt that has burdened the national power and telecom institution.

“The new financing will help ICE free up cash currently used for debt service and devote more resources to investments in infrastructure to continue improving service quality and coverage," said IDB project team leader Javier Molina in a statement from the bank. "It will also assist ICE in meeting working capital requirements to grow its operations."