Government celebrates historic agreement with Brazil generating an annual income of US$ 1.250 billion - .::Agencia IP::.

Paraguay and Brazil have reached a historic agreement on the Itaipu Binational energy tariff. The President of the Republic, Santiago Peña, highlighted that it represents a "triumph for Brazil and Paraguay," translating into significant resources that will be allocated to ensure "the well-being that all Paraguayans deserve."

Asunción, Agencia IP.- Paraguay and Brazil have reached a historic agreement on the Itaipu Binational energy tariff. The President of the Republic, Santiago Peña, highlighted that it represents a «triumph for Brazil and Paraguay,» translating into significant resources that will be allocated to ensure «the well-being that all Paraguayans deserve.»

The President officially announced this Thursday through his social media channels in a message addressed to the Paraguayan population.

«We have concluded the first phase of a vitally important agreement with our Brazilian brothers, and the results are reasons for enormous satisfaction. This negotiation represents a triumph for Paraguay and Brazil,» Peña expressed at the beginning of his message.

The agreement between the two countries operating the binational hydroelectric plant was set at a tariff of USD 19.28 until 2026. This agreement will generate around USD 280 million in royalty income, USD 650 million for social investment per year, USD 265 million for energy compensation, and USD 53 million in capital profits and other income, for a total of USD 1.250 billion per year.