Government of Costa Rica and CABEI sign contract to preserve the National Theater

San José, April 30, 2018. In order to support CABEI in the "Comprehensive Program for the Security and Conservation of the Historical National Theater of Costa Rica," the Government of Costa Rica and the Central American Bank for Economic Integration (CABEI) signed a loan contract for US $31.3 million.

Alberto Cortés Ramos, CABEI Director for Costa Rica, said that, with this investment program, CABEI continues to contribute to the achievement of an inclusive and people-centered sustainable development, "preserving one of the most important architectural spaces of exchange and cultural experience for Costa Ricans also strengthens the development of scenic and musical arts, generating a direct contribution to the creative economy and with it, economic growth and employment generation, while strengthening identity and cultural diversity, which results in a sustainable and inclusive development."

The strengthening and conservation of the National Theater of Costa Rica, one of the most important heritage buildings in the country, considered an architectural jewel, will be carried out through the implementation of projects that allow the building to adapt to current regulations, codes and technology.

Mauricio Chacón Romero, CABEI Country Manager for Costa Rica, added that the Bank recognizes the need to support its member countries in relevant areas that promote the human and social development of the population. The "Comprehensive Program for the Security and Conservation of the Historical Monument of the National Theater of Costa Rica" is an initiative that is part of the Human Development and Social Infrastructure focus area of the Social Development Axis of the 2015-2019 Institutional Strategy. We are proud that the Bank's resources allow us to improve the conditions of this important architectural and historical jewel of Costa Rica.

The program financed by CABEI is intended to ensure the preservation of this heritage building, in addition to providing independence to the administrative offices, to exclude any administrative type of activity that represents a risk from the theater's main building.

"I thank the Central American Bank for Economic Integration for its support and trust, and the members of the board of directors and authorities of the National Theater for their concern and their efforts aimed at obtaining the loan we signed today, which will preserve a bulwark of our country's culture and history," said Helio Fallas, first vice president and finance minister.

It is important to highlight that this Program is linked to the National Policy on Cultural Rights, which refers to the "Protection and Management of Cultural, Material and Intangible Heritage," and establishes as a strategic objective: to promote actions aimed at ensuring the protection and participatory management of cultural, material and immaterial heritage, and to strengthen the identities and well-being of people, groups and communities throughout the country.

"For the Theater, this is the culmination of all the work we have been doing since 2015, making diagnostic studies of the building's vulnerabilities and taking measures to protect it. Once all the signatures and plans are obtained, we will present it in the Legislative Assembly and we will execute this loan that will be transcendental for the history of the Theater and for San José," said Fred Herrera Bermúdez, Director of the National Theater.