• Costa Rica Coffee Guide

World Bank Gives $72.5m Loan for Limón

February 29, 2008
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.
 

You may be interested

Panama’s economy registers historic decline due to pandemic
Latin America
1971 views
Latin America
1971 views

Panama’s economy registers historic decline due to pandemic

AFP - March 2, 2021

The economy of Panama, one of the largest in Central America, suffered a historic contraction of 17.9% in 2020 compared…

IMF loan ‘ultimately benefits all Costa Ricans,’ Alvarado says in interview
Costa Rica
1576 views
Costa Rica
1576 views

IMF loan ‘ultimately benefits all Costa Ricans,’ Alvarado says in interview

The Tico Times - March 2, 2021

The International Monetary Fund (IMF) on Monday approved a three-year, $1.78 billion loan to help stabilize Costa Rica's economy. Read: IMF…

This day in history: Pope John Paul II visits Costa Rica
A Look Back
2446 views
A Look Back
2446 views

This day in history: Pope John Paul II visits Costa Rica

The Tico Times - March 2, 2021

Tuesday is the 38th anniversary of Pope John Paul II’s visit to Costa Rica. As the first pope to visit the country,…