The start of 2012 will see the launch of the new Development Banking System, which has $200 million in credit to support micro, small and medium enterprises.
Bandesal has, to start off with, $200 million for small and medium enterprises."However, we are aiming later on to provide funding for large enterprises, preferably those that require large investments such as construction and agricultural industries, said the technical secretary of the Presidency, Alexander Segovia," in an article by from Daniel Gonzalez Choto a ElFinancierocr.com correspondent in Costa Rica.
The government has launched an aggressive plan to promote investments in two areas of most interest to tourism: the former U.S. base in Sherman, in the Caribbean, and Amador, on the banks of the Canal on the Pacific side.
Authorities in Panama have set in motion an ambitious plan to attract investment in two areas of most interest to tourism: the old Sherman U.S.
The government wants to reform the law so that it can use the $1,300 million for infrastructure and strategic projects within the country.
98% of assets in the Trust Fund for Development (FDD), are held outside of Panama, giving low yields: 6.02% in 2010, and 4.19% in 2011.
An article in Martesfinanciero.com, reported that "The Ministry of Economy and Finance (MEF) is working on an amendment to the law governing the Trust Fund for Development (FFD), a financial instrument powered from its inception in 1995 with money generated by the sale of properties in the repossessed areas and privatization of public services initiated by former President Ernesto Perez Balladares. Faced with a turbulent international economic context, the MEF has decided to take action on the matter and start working on a project to reform the legislation (Law 20 of May 15, 1995). Changes being worked on by the authorities revolve around four main axes: Allow the fund to invest in joint ventures, develop infrastructure in the repossessed areas that have yet to be sold, invest in sectors considered strategic and modernize the policy for investment in financial instruments. "
50 specialists discussed in Costa Rica the future of planning and development in Latin America in the seminar "Visions of the Country: Social Dialogue and Democratic Strengthening "
A press release from the Foundation for Peace and Democracy reads:
The regional director for Latin America and the Caribbean from IDEA International, Daniel Zovatto, inaugurated an International Workshop entitled ‘Visions of the Country: Social Dialogue and Democratic Strengthening’ on December 8 at the Real Intercontinental hotel in Costa Rica.
"The country has entered a new and more dangerous phase, a clear erosion of some of the most precious historical advantages of human development."
Synopsis of the Seventeenth Report of the Nation on Sustainable Human Development:
When examined closely, 2010, a year without dramatic events, seemingly calm, reveals the seriousness of the problems experienced by human development in Costa Rica.
Holders of bonds issued by Newland International Properties Corp. are willing to become partners in the project because the developer does not have the necessary capital for the next repayment.
On November 15, Newland International Properties Corp., developer of Trump Ocean Club International Hotel & Tower, is due to pay $31 million in amortization of capital to holders of bonds issued to finance the Trump Ocean Club.
Out of all the countries on the isthmus, only Panama’s Human Development Index follows the upward trend set by Latin America and the Caribbean.
Since the 1990 publication of the Human Development Index (HDI), the number has shown an upward trend for the vast majority of nations. This overall positive trend has been exceeded by some countries, such as South Korea and China, while others, such as Zimbabwe and Lesotho, have actually moved in a negative direction.
According to the UN Development Program (UNDP) index, within Central America Panama comes first at no. 58 followed by Costa Rica (69), El Salvador (105), Honduras (121), Nicaragua (129) and Guatemala at no. 131.
While Panama's ranking has moved up one spot since the last time the UNDP Human Development Index (HDI) was published, Costa Rica and Honduras have slipped back a place.
A proposal has been presented to the bondholders to extend the term of the debt.
$220 million in bonds issued in 2007 to build a luxury apartment building called Trump Ocean Club, owned by tycoon Donald Trump, will be restructured before the next payment of debt, which is due on November 15.
This is the date when Newland International Properties Corp.
They note that the private sector is bearing the brunt of the economy while the government is negligent in implementing development plans that have already been approved by several laws in the Legislature.
A statement by the Salvadoran Association of Industrialists (ASI) reads:
The Salvadoran Association of Industrialists (ASI) has made an assessment on the performance of the manufacturing industry, which details the results of the different productive sectors.
In the past four decades great advances have not been made in the problems of water distribution, solid waste management, land use and transport.
Nine municipal administrations have presented action plans for solving the problems facing Guatemala City, but most have ended up as just that, plans.
"The current municipal authorities, in conjunction with the Regional Bureau for Latin America and the Caribbean of the United Nations Environment Programme (UNEP), produced a study in 2008 called "Perspectives of the Urban Environment: Geo Guatemala City" in which a diagnosis of the city’s problems was given and a solution offered for each of them. It stressed that with population growth, the horizontal extension of urbanisation, the socioeconomic inequality in the greater metropolitan area, there would also be an increase in territorial imbalances.
Construction has been growing like wildfire, so far this year more than $13 million has been invested.
The housing shortage experienced by the province of Chiriqui may slowly disappear, if the rapid pace of construction continues.
In just five months, residential and commercial buildings costing $13.8 million have been developed, and it is projected that the figure could exceed $49 million by the end of the year.
A document contains summarized development proposals for 541 major projects with a total investment budget of over $2,500 million.
The overall objective of the plan is to formulate a tool for territorial planning in the medium and long term (projected to the year 2024), which integrates proposed land development - rural and urban- at a local and sub-regional level, with the opportunities and challenges of each of the municipalities that are part of the Sub Region 1, in order to achieve feasible and viable proposals that will contribute to improving the economic, social, and environmental conditions and the quality of life of its inhabitants, providing the social agents with an instrument that will allow them to manage local development efficiently .
Broadband telecommunications technologies have the potential to stimulate rapid economic growth and facilitate job creation.
The report, "Broadband: a platform for progress", published by the United Nations, urges countries to implement national plans for broadband, so as not to risk losing the benefits of global high-speed digital communication .
The report shows, by way of example, that every 10 percent increase in broadband penetration in China could contribute to an increase of 2.5 percent extra growth in the gross domestic product (GDP). Other data cited in the report indicates that for countries of low and middle incomes, a 10 percent increase in broadband penetration could mean up to a 1.4 percent point increase in economic growth.
The Chamber of Information and Communication Technology (CAMTIC) presented its strategic proposal "Costa Rica: Green and Intelligent 2.0".
The document presented by CAMTIC to the government of Costa Rica, proposes that in order to develop a National Strategy for Information Technology and Communication: "Costa Rica: Green and Intelligent 2.0" an understanding needs to be incorporated of the concept of "media, processes, content and digital culture as a new interface in our socio-economic systems, and of scientific and technological knowledge as a platform for innovation and therefore the hub of productivity and entrepreneurship. "