The funds from the $500 million loan from the Andean Development Cooperation, which was originally planned to be used for debt repayment, will be used to finance the Costa Rican government's response to the national emergency caused by the Covid-19 virus, the Legislative Assembly reported.

See "Coronavirus: How Will It Affect Business?"

Nacion.com reviews that "... The line of credit will also be used to support the Costa Rican Social Security Fund (CCSS) in the purchase of supplies and equipment to assist those who contract the new coronavirus."

The article adds that "... The file, which has already been transferred to the Executive Branch to be signed by President Carlos Alvarado, establishes that the Ministry of Finance must present extraordinary budgets clearly indicating how the money will be used."

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Source: Nacion.com

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April 2019

The Andean Development Corporation approved a $500 million loan to the government of Costa Rica, which will be used to "achieve fiscal sustainability in the short and medium term.”

The Andean Development Corporation (CAF) reported that these resources will be used to obtain the benefits generated by the implementation of the Law to Strengthen Public Finances and Costa Rica's access to international markets.