For the comprehensive and resilient reconstruction of infrastructure damaged by emergencies in Costa Rica, CABEI approves largest credit in its history for US$700 million

Tegucigalpa, December xx, 2022.- Several vulnerable roads, bridges, sewers, homes and educational centers, among other infrastructure catalogued as being at imminent risk after the passage of storm Bonnie, the Pacific Intertropical Convergence Zone and hurricane Julia in Costa Rica will be rebuilt with the largest financing approved in the history of the Central American Bank for Economic Integration (CABEI) for US$700 million.

The "Emergency Program for Integral and Resilient Infrastructure Reconstruction" contemplates at least 2,500 investments for the benefit of 3.8 million Costa Ricans, including 150 vulnerable points of highways in different routes of the country, and others affected by slopes, subsidence, deformations; as well as the rehabilitation and/or replacement of 82 bridges in poor condition and the installation of modular bridges.

"We are pleased to be the main ally of our founding partner Costa Rica and to have been able to quickly respond to their request in the face of the weather emergencies that caused so much damage and loss to Costa Ricans. This is a historic approval that will be used to provide homes for more than 6,000 people, new classrooms for more than 11,000 students, and safe roads and bridges for all Costa Ricans, in addition to generating more than 9,000 sources of temporary employment during the execution of the various projects, among many other positive impacts," said CABEI Executive President, Dr. Dante Mossi.

The repair or reconstruction of 36 schools located in 28 cantons, including six located in indigenous territory, including furniture and equipment for canteens identified as being in a situation of imminent risk endangering their lives, is also foreseen. In addition, 40 bridges between trusses and beams on the railway line will be repaired.

The project includes 32 structures, including bridges (22), tracks (9), and a passenger train tunnel in the Greater Metropolitan Area (GAM), as well as water systems, sewers and fords, and mitigation works in rivers and streams, among others.