Costa Rica Could Lose $850 million in Loans

IDB loans in that amount for road infrastructure have not been implemented and are at risk.

Tuesday, May 26, 2009


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During a visit to Costa Rica, IDB president Luis Alberto Moreno urged the country's legislature to approve the use of funds for roads, ports and airports, indicating that excessive delays could put the loan at risk due to the high demand of resources by other countries.

According to an article in laprensagrafica.com, the official said that "if delays are excessive, they would jeopardize the ability to allocate resources to Costa Rica" and that "the road situation in the country challenge its competitiveness;” and if "these investments are not made, the country will continue to lose competitiveness."

More on this topic

Bureaucracy Delays Implementation of Loans for Public Works

November 2013

In Costa Rica bureaucratic process and the slow pace of legislative approval for loans for infrastructure are key factors in the terrible record for execution of projects.

According to officials from the Ministry of Finance the slow implementation of projects financed by international organizations is due to "bureaucracy related to external credit authorizations and the time the project spends in the Legislature, pending approval," noted an article in Nación.com.

$850 Million For Roads and Highways

June 2009

Costa Rica approved a line of credit from the IDB for the rehabilitation of roads and improvements to the road infrastructure in cities and national routes.

The loans for $850 million authorized by the Inter-American Development Bank (BID acronym in Spanish) were approved by the Legislative Assembly of Costa Rica for financing of the Transportation Infrastructure Program.

El Salvador: $170 million for Health Services

February 2016

A loan from the Inter-American Development Bank has been approved for the construction of two hospitals and improvements to the health system.

From a statement issued by the Legislative Assembly of El Salvador:

Members authorized with 63 votes, the signing of a loan agreement between the Government of the Republic of El Salvador and the Inter-American Development Bank (IDB), in the amount of $170 million, and financing the implementation of the "Integrated Health Program II".

IDB Increases Support to Central America

March 2009

During a meeting of Governors, IDB President Luis Alberto Moreno announced that the entity will increase its support to countries in the region.

Proceso Digital published on its website: "’At this juncture, we have to lend more and that is our obligation and why we are here,' said the head of the IDB in his opening speech.

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