CABEI provides technical assistance for the implementation of electric mobility in Costa Rica


With the support of the European Union and the Government of Germany, the Bank of Costa Rica will provide advisory services for the implementation of this type of transportation in the country.

San José, October 3, 2021. - A multidisciplinary team of German consultants, experts in electric mobility hired by the Central American Bank for Economic Integration (CABEI), within the framework of the Green MSMEs II Initiative, will be in charge of advising its financial ally Banco de Costa Rica (BCR) in the implementation of the "Project: Electric Mobility Consultancy - Electric Buses".

The technical cooperation recently approved by CABEI for 58,000 euros is aimed at creating and strengthening the BCR's internal technical and financial capacities for the financing of electric mobility initiatives and projects, as well as advising public transportation service concessionaires, members of the National Transportation Chamber - CANATRANS, on the definition of technical specifications for electric buses, assessment of the type of technologies, suppliers, manufacturers' guarantees, among others.

"Costa Rica is a leader in the region in terms of environmental sustainability, which is why we are pleased with this agreement with our strategic ally BCR to support and promote this type of clean mobility that will translate into a better quality of life for the country's inhabitants," said CABEI Executive President, Dr. Dante Mossi.

The consultancy, which will be executed over the next four months, plans to facilitate the acquisition and financing of at least 10 bus units with electric technology that will be able to provide service in the first half of 2022.

This also includes the delivery of a technical report to the BCR, detailing the commercial, credit and risk, and engineering aspects to be taken into account in the analysis of electric bus financing; the environmental, social and economic indicators that apply to financing; as well as a technical report for representatives of bus concessionaires with the evaluation of different technologies (e-buses/battery/charging), calculation of energy consumption, review and discussion of systems.

The initiative is aligned with Costa Rica's National Decarbonization Plan, which seeks to support MSMEs that need to finance projects with an environmental sustainability component.