CABEI and Government of Costa Rica identify priority initiatives for joint development


Ten operations are currently underway in the health, water and sanitation, road infrastructure, MSMEs, and other sectors, for an amount of US$2 billion.

San Jose, June 13th, 2022.- This Monday, the Executive President of the Central American Bank for Economic Integration (CABEI), Dante Mossi, and the President of the Republic of Costa Rica, Rodrigo Chaves, met with their teams to draw up a roadmap for the joint development of priority actions for the country to benefit its inhabitants.

To this end, the multilateral organization plans to make contributions in the order of US$2.5 billion over the next four years, prioritizing in the short-term areas such as the economy, with a development policy operation that will improve the country's debt profile in a sustainable manner; road infrastructure, with the improvement of bridges and highways in critical condition; as well as education, enabling educational centers in areas of extreme poverty; and employment generation.

During the meeting, Mossi explained to Chaves that Costa Rica currently has CABEI's support in ten operations totaling more than US$2 billion, such as PAACUME (known as Water for Guanacaste), Strategic Road Infrastructure Works, Renovation of Hospital Infrastructure and Equipment, five water, sanitation and sewerage projects, refinancing of debt for the acquisition and application of vaccines against COVID-19 and budgetary support to mitigate the rise in fuel prices.

In addition, six technical cooperation projects are being executed to determine the feasibility of projects that could be financed by the multilateral in the future, such as: infrastructure and equipment for educational centers in areas of extreme poverty, the construction of bridges and roads in states of emergency, the development of offshore wind farms in the North Pacific, a sanitation system in Liberia, the construction of the Judicial Complex in Buenos Aires de Puntarenas, and the designs for the construction of a climate-smart greenhouse.

On the other hand, the multilateral also maintains funds approved for the country in the order of more than US$1.7 billion for the development of initiatives such as the Supply Project for the Metropolitan Aqueduct Fifth Stage (PAAM); the state contribution for the construction and operation of the Electric Train of the Greater Metropolitan Area; the design, construction and equipment of the Monsignor Sanabria Hospital in Puntarenas, Max Peralta Hospital in Cartago and the William Allen Taylor Hospital in Turrialba. The latter two are awaiting congressional approval.