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.”

The IDB board will decide on approving the loan on August 7. It is separate from the Government of Jamaica’s US$150-million loan to JPS and from previous drawdowns from the Electricity Disaster Fund, both of which were announced late last year.