• Costa Rica Coffee Guide

World Bank to Loan $72.5M for Limón

January 11, 2008

The World Bank approved a $72.5 million loan for Costa Rica to revamp its Caribbean port city of Limón, the government announced.

Called the Port-City Limón Integrated Infrastructure Project, the loan is one of three initiatives for the region pushed by President Oscar Arias, said Casa Presidencial spokeswoman Eugenia Sancho.

It will help make the other two initiatives possible, as they include broadening social programs in such areas as public health and overhauling the ports to build the site into a mega-port, Sancho said.

The Arias administration has earmarked $7.5 million in Costa Rican funds to assist in Limón’s renewal in conjunction with the World Bank loan.

According to a statement by the World Bank, the loan is meant to be invested in urban upgrade, restoring emblematic cultural heritage sites and providing basic services to Limón’s poorest inhabitants.

It’s also aimed at raising employment and income through the development of micro and small businesses, providing training assistance and buoying the region’s cruise tourism sector.

Additionally, it is hoped that the fresh funding will improve transport to the Limón and Moín port terminals, including the repair of the bridge over the ChirripóRiver.

“The plan is really to change the face of Limón,” said Sancho.

The loan is to be repaid in 15 years.

 

You may be interested

Costa Rica considers upgrades to Limón cruise terminal, marina
Costa Rica
3085 views
Costa Rica
3085 views

Costa Rica considers upgrades to Limón cruise terminal, marina

Alejandro Zúñiga - May 7, 2021

The Atlantic Port Authority's (JAPDEVA) has contracted U.S.-based Moffatt & Nichol to conduct feasibility studies regarding a new cruise terminal…

Former Latin American leaders condemn ‘breakdown in the rule of law’ in El Salvador
El Salvador
8 views
El Salvador
8 views

Former Latin American leaders condemn ‘breakdown in the rule of law’ in El Salvador

The Tico Times - May 6, 2021

Some 20 former presidents of Spain and Latin America, including Felipe Calderón and Vicente Fox from Mexico, and Álvaro Uribe…

Quepos airport renovations (finally) underway
Costa Rica
11 views
Costa Rica
11 views

Quepos airport renovations (finally) underway

Alejandro Zúñiga - May 6, 2021

Renovation and expansion of the runway at La Managua Airport in Quepos began Wednesday and will completed before September. "The…