CABEI concludes disbursements to refinance purchase of COVID-19 vaccines to benefit 4 million Costa Ricans


The loan allowed the country to save an estimated US$2.7 million per year.

San Jose, February 25th, 2021.- As part of the support provided by the Central American Bank for Economic Integration (CABEI) to its founding partner country Costa Rica, the last disbursement of US$11.0 million corresponding to the US$80 million financing for the acquisition, equipment and application of vaccines against COVID-19 was successfully made this week.

"It gives us great satisfaction to know that almost 4 million people, identified as the target population, already have their vaccine doses to combat the effects of COVID-19, so that they can gradually restore their daily activities," said CABEI Executive President Dr. Dante Mossi.  

In December of last year, less than 24 hours after receiving congressional approval, the Bank had disbursed 86% of the funds that allowed the refinancing of the government's debt, with interest rates almost halved, equivalent to an annual savings of US$2.7 million.

This financing is in addition to four non-reimbursable technical cooperation operations approved by CABEI in the last two years for Costa Rica to address the COVID-19 emergency for a total of US$2.8 million.

The program is part of CABEI's Emergency Support and Preparedness Program for COVID-19 and Economic Reactivation, under the CABEI credit facility component for the acquisition and application of vaccines for up to US$800 million made available to the region, of which US$100 million has been approved for Nicaragua, US$80 million for Costa Rica, and US$35 million for Honduras.