World Bank Gives $72.5m Loan for Limón
The government this week signed for a $72.5 million World Bank loan that will go toward upgrading the Caribbean province of Limón, beautifying the city and funding new public works projects.
“Limón will never again be a forgotten province,” President Oscar Arias said. The province of Limón has consistently scored as one of the lowest regions in the country in terms of development.
At the top of the list of the administration’s upgrade plans are an overhaul of the railroad system to decrease congestion on Route 32, as well as an improvement in the access routes to Moín Port, just north of the city.
The Costa Rican government will complement the World Bank’s loan with $7.5 million of its own money. The loan must be paid back in 15 years, with a five-year grace period.
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