$850 Million For Roads and Highways

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.

Friday, June 26, 2009

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.

According to La Prensa Libre de Costa Rica, “the main idea behind the resources is to give economic support to the renewal of dirt and gravel county roads, the improvement of road infrastructure for the adequate operation of urban public bus transportation and other transport systems, like the railroad. Furthermore, it includes money to begin rehabilitation projects, reconstruction and improvement of national roadways.”

More on this topic

Costa Rica: $450 million for Road and Port Construction

October 2014

A loan has been approved by the Inter-American Development Bank and the Fund for Chinese Cofinancing to repair roads and build bridges in different parts of the country and carry out port works in the Pacific.

Ministers approved, on its second reading, a loan which will finance the Transportation Infrastructure Program (PIT by its initials in Spanish), which will be used to repair roads and make other improvements to road infrastructure mainly in the northern and central Pacific parts of the country.

Costa Rica: $200 million for Municipal Roads

July 2011

The Costa Rican Legislative Assembly has approved a $200 million loan for road infrastructure.

The Inter-American Development Bank (IDB) loan, is part of a loan package of $850 million, which will be disbursed in installments.

"These resources, which are exclusively for matters relating to road infrastructure, will be used for a second tranche of cantonal road development in a number of towns and roads that have already been established, the projects will be monitored by a unit of the Ministry of Public Works and Transportation", published Prensalibre.cr.

Costa Rica Could Lose $850 million in Loans

May 2009

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

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.

$850 million credit for infrastructure in Costa Rica

August 2008

IDB approved the loan for the repair of highways, bike paths, the airport in the southern zone of the country, and even for the Metropolitan Electric Train.

The Legislative Assembly will decide if the country accepts the loan or not.
President Oscar Arias called on lawmakers to vote in favor of the credit.

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