CABEI to provide US$80 million in financing for 3.7 million Costa Ricans to have access to COVID-19 vaccine
These resources are part of CABEI's Emergency Support and Preparedness Program for COVID-19 and the Economic Reactivation Program for the Acquisition and Application of Vaccines.
Tegucigalpa, Honduras, February 24, 2021. – The Central American Bank for Economic Integration (CABEI) approved US$80 million in financing for the Republic of Costa Rica for the acquisition, equipment, and application of vaccines against COVID-19, making it the first Multilateral Bank to approve financing for this purpose in the Central American region.
This will allow financing the Costa Rican program to vaccinate approximately 3,705,638 inhabitants defined as the target population, achieving a coverage of 72% of the total population. The funding seeks to guarantee a healthy life and promote well-being for the population of all ages, and thus ensure sustainable development by combating the COVID-19 epidemic.
The President of the Republic, Carlos Alvarado, pointed out that this more accessible financing is of great importance because "vaccination is the most important tool for preserving public health and at the same time boosting the country's economic recovery, while facilitating the gradual processes of opening up".
"CABEI has made great efforts to carry out this thematic financing for the purchase of the vaccine, maintaining very favorable conditions for the countries that request it, since its purpose is recognized. It fills us with enthusiasm to inform Costa Ricans that they will be able to access this resource that comes as a light of hope after so many months of waiting," said CABEI Executive President, Dr. Dante Mossi.
This financing is part of CABEI's Emergency Support and Preparedness Program for COVID-19 and Economic Reactivation for the Acquisition and Application of Vaccines and is in line with the Sustainable Development Objective, thus guaranteeing that the beneficiary population will have access to supplies, medicine, and special medical equipment in the short term.
It is for a 20-year term, with a five-year grace period, with competitive financial conditions and in compliance with the corresponding national regulations.