Costa Rica: $450 million Trust for Public Works

The Costa Rican Social Security Department has approved the establishment of a trust fund for hospital construction and infrastructure equipment for the next 11 years.

Friday, November 6, 2015

The institution announced that in 2016 it will select the financial institution that will administer the trust and start the first project, which will be to build a new hospital in Turrialba in 2018. The report "Feasibility Analysis for Procurement of a trust for the construction and infrastructure equipment in the CCSS," notes that "... there is a backlog of $2.1 billion in infrastructure".

Nacion.com reports that "... The Fund will use the same mechanism for public works trusts as that used by the University of Costa Rica, the turnkey format. In this case, the entity provides the necessary resources for carrying out the works and a fee is paid to the trustee bank.
The funding, in the case of the CCSS, will come from the entities own resources from the health insurance contributions, as well as specific taxes, such as the Law on tobacco. "

"... Among the planned projects are the construction of new hospital in Turrialba, health centers (Ebais), a center for storage and distribution of medicines, remodeling of the administrative branches. "



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