World Bank approves $350 million loan for Costa Rica

World Bank approves $350 million loan for Costa Rica
© Reuters. FILE PHOTO: The World Bank logo is viewed at the 2023 Spring Conferences of the World Bank Neighborhood and the World Monetary Fund in Washington, U.S., April 13, 2023. REUTERS/Elizabeth Frantz/File Report

SAN JOSE (Reuters) – The World Bank current a $350 million loan for Costa Rica to fund infrastructure and climate and catastrophe resilience projects, the lender acknowledged on Friday.

The program is to fund investments in extreme infrastructure for flood control and slope stabilization, to boot to the reconstruction of bridges and roads broken by weather-related mess ups.

Costa Rica “stays extremely exposed to extreme weather occasions and pure hazards, which magnify the impact of these dangers,” the country’s finance minister, Nogui Acosta, acknowledged in a assertion from the World Bank.

“This project is aligned with the country’s approach for mitigating and adapting to climate alternate and can crimson meat up our priority of investing in resilient infrastructure and providers and products to guard folks living within the most weak areas,” Acosta added.

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