More than US$1,000 million approved by CABEI for Costa Rica during 2022 promote its resilient reconstruction and sustainable economic and social development


• For the benefit of more than five million people, significant financing materialized to meet the needs of the country.

San José, January 04, 2022 - Contributing to a low-emission economic recovery, as well as to the resilient reconstruction of road, educational, and housing infrastructure affected by the emergencies that affected Costa Rica in the last half of 2022, last year the country achieved historic approvals from the Central American Bank for Economic Integration (CABEI) that totaled US$1,190 million.

Among them approvals, one was for US$290 million to implement various economic initiatives and fiscal consolidation, and other for US$700 million, which represents the highest approval in the history of CABEI, which will be invested in more than 2,500 emergencies in various parts of the country, both benefiting the more than five million Costa Ricans after being approved by the country's Congress.

"Despite the fact that this year Costa Rica was in a transition process with the change of authorities at the beginning of the year, it is admirable to see how the country has remained active in its efforts to recover economically and guarantee the population's quality of life. As CABEI we are pleased to be your strategic partner to find solutions in an effective and timely manner at the time you request our support", said CABEI Executive President, Dr. Dante Mossi.

Also from the private sector, through financial intermediation, important disbursements were made; one for US$12.5 million to finance electric or hybrid vehicles, and another for US$20 million that will benefit 200 micro, 100 small and 10 medium-sized enterprises in rural areas, in addition to the creation of nearly 2,000 jobs.

In addition to the loans directed to the public and private sectors, CABEI also approved important cooperation projects, for example, with the support of strategic allies such as Korea, through the Korea-CABEI Single Donor Trust Fund (KTF), a non-reimbursable technical cooperation for US$600,000 to the Costa Rican Electricity Institute (ICE) to finance studies to identify the potential to develop offshore wind farms.