The Banco Popular approved ¢1.4 billion (more than $2.8 million) in credit this week for infrastructure development in Santa Cruz, a small historical city in the northwest province of Guanacaste.
Of the loan, ¢517 million (roughly $1 million) will be spent on road improvements. The remaining ¢933 million (approximately $1.8 million) will be used to purchase a nine-hectare property on which the municipality plans to build a solid waste treatment facility and a fairground, and to devote two hectares to the construction of a hospital, Banco Popular said this week.
The funds come from a ¢60 billion ($116.3 billion) credit line that Banco Popular is channeling to municipalities for infrastructure development. Santa Cruz and three other Guanacaste municipalities have received ¢3 billion ($5.8 million) in credit this year from Banco Popular for roadwork and water and waste treatment.
Banco Popular has also provided credit for half of the materials for the NationalUniversity’s (UNA) new campus construction in Liberia, the provincial capital of Guanacaste, and has made loans to Coopeguanacaste R.L, a large Guanacaste electricity provider.