A trust has been approved which will start off with $1.2 million to fund training plans and provide work training for free zone companies.
The funds for the Trust come from the Ministry of Foreign Trade's budget, and "... companies that receive the incentive must also provide part of the funding for the program that they request, according to the ministry."
The construction project which will be developed through a trust has three sections of 1.6, 12.6 and 41 kilometers each, with three, four and two lanes in each direction, respectively.
The details of the project"Trust for the San Jose-San Ramon Road Corridor and its ring roads", awarded to Banco de Costa Rica, note that the first tranche from the Metropolitan park La Sabana to the the Interchange of the Circumnavigation, there will be three lanes in each direction with external and internal shoulders and dividing rails.
The government is assessing the concession of construction of the last stretch of 8 kilometers of the new road in San Carlos, for an approximate value of $75 million.
Lack of resources has forced the Ministry of Public Works and Transport to evaluate the option of creating a trust or a grant to complete the work of 44 kilometers between Florencia in San Carlos and Naranjo.
Abdul Waked has authorized the transfer of assets from the mall to a trust in order to ensure the continuity of its operations.
The mall that was previously owned by Waked will be able to keep operating, while creditor banks reorganize its finances and a sales process is defined.Soho Mall is located in the financial district of the capital.
Through a trust with a state insurer $35 million will be used to finance the construction of a major road link in the east of the Greater Metropolitan Area.
The stretch of road between Hacienda Vieja, Curridabat, and the Garantías Sociales roundabout in Zapote, will be developed using a trust, explained Carlos Villanta, Minister of Public Works and Transportation, adding that"... negotiations with the National Insurance Institute are very advanced and, if everything goes correctly, construction could start in about 10 months time. "
The solution accepted by OFAC so that companies in the Felix B. Maduro Group can continue to operate could be extended to Waked's assets in Soho Mall.
In an unprecedented measure, the Bureau of Foreign Assets (OFAC) of the US Treasury has authorized the delivery of corporate control of Felix B. Maduro companies to a trust, in order to facilitate the continuation of their operations.And according to an article on Prensa.com,"...Shareholders ofFelix B. Maduro,one of the companies that is part ofWisa Group, the business empire ofAbdul Waked, who is included on theClinton List, accepted the terms and conditions provided by the Government with the United States Department of the Treasury (EU) to ensure the continuity of their businesses. "
In Costa Rica approval has been given to a trust fund through which private companies will be paid $2,700 for each employee hired from the vulnerable population.
The government initiative that aims to pay companies around $2,700 per employee hired from the vulnerable population, has won its first endorsement to be included in a trust administered by Banco Popular.
The Bank of Costa Rica has been selected to hold the trust which will be used to manage the project to expand the highway between the capital and the city of San Ramon, which will cost approximately $500 million.
Creditors of the manufacturer of flexible packaging Yanber, agreed to receive the company as payment for debts owed to each of them in order to keep the business going.
The Yanber Corporation requested use of the Preventive Convention in order to suspend payments in June 2015 , with the aim of reaching a settlement with its creditors, in order to avoid falling into bankruptcy and to continue operating. With the current agreement, the company will become the property of a trust-owned by its creditors.
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