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Costa Rica receives $340 million loan for road projects

April 16, 2012

Costa Rica’s government on Monday signed a $340 million credit agreement with the Central American Bank for Economic Integration and the National Roadway Council to finance public roads projects.

Among the main projects is the first stage of the Circunvalación Norte (a belt route around the north of San José), access to the Moín Port container terminal on the Caribbean coast, and the widening of a bridge over the Virilla River northwest of San José.

Acting Finance Minister and Vice President Luis Liberman signed the loan, saying “we have dreamed [of] and fought for years [for the projects]. … These projects need be done to revive the economy.”

President Laura Chinchilla said that “her government has worked hard to find external funding sources to build a robust investment portfolio that Costa Rica has never seen and that improve the quality of life of Costa Ricans and the productivity of the private sector.”

The loan will also finance the construction of bridges over three traffic circles in the capital.

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