$310 Million for Projects in Costa Rica

State owned banks will now be able to loan up to 20% of their equity to state entities.

Monday, August 24, 2009

With the approval of the law project, the available loan portfolio at state-owned banks will be 8.6 times larger.

"The modification increases from 6% to 20% the capital and reserves limit that state banks can loan to public institutions. ICE, AyA (Sewer and Aqueducts Institute) and CCSS (Costa Rica Social Insurance) will remain outside of this limits", reported Elfinancierocr.com.

More on this topic

The Fall of Public Investment in Costa Rica

March 2013

In the past three years, the relationship between spending on infrastructure and equipment for public institutions and the country's national production, fell from 9.4% to 6.1%.

Nacion.com reports that "The Comptroller General's Office warned, in its report on the 2013 public budget, of a reduction facing planned investment in the non-financial public sector in respect to production, especially between 2010 to 2013. "

Costa Rica: Construction Lacks Public Investment

August 2010

The drop in state construction this year has worsened the sector's situation, already troubled since the beginning of the financial crisis in 2008.

The completion of large projects and the lack of funds to begin projects are two of the reasons for the slowdown in public sector construction.

El Salvador: Low Rate of Execution of Investments

August 2011

The government of El Salvador has executed only 25% of the public investment it had planned for 2011.

Public institutions projected works for the year 2011 totalling $1,146 million in social investment programs, municipal investments, and works arising from the effects of Hurricane Ida which hit the country in 2009.

For and Against the UNOPS

July 2015

While state officials are happy to delegate their responsibilities to the UN Office for Project Services, the Comptroller of Guatemala has declared that its services are "detrimental to the interests of the state".

EDITORIAL

The arrival in Central America of the UN Office for Project Services (UNOPS) was hailed by many as a factor that would allow the execution of public works which are very difficult or impossible for state institutions in the region to run, for various reasons ranging from lack of qualified personnel to simple negligence.

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