No menu items!

COSTA RICA'S LEADING ENGLISH LANGUAGE NEWSPAPER

HomeNewsCosta RicaCentral American Bank approves $400 million to finance vaccines against Covid-19 in...

Central American Bank approves $400 million to finance vaccines against Covid-19 in region

The Central American Bank for Economic Integration (CABEI) approved financing of $400 million for the purchase of vaccines against Covid-19 in the region, the president of the organization, Dante Mossi, reported Thursday.

The resources will serve “to guarantee our countries priority access to these vaccines” when they become available in the international market, Mossi said.

Vaccines are under development in several countries, and the Pan American Health Organization (PAHO) seeks to guarantee supply to its member states.

“To date, it is not possible to have a price or quantity of vaccines that each country will require,” Mossi noted.

CABEI will grant $50 million to each of the eight beneficiary countries of the institution: Belize, Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica, Panama and the Dominican Republic.

The emergency loan will be issued with a 20-year term and interest rates below 3%.

CABEI on Thursday held its 60th annual meeting of governors, during which it approved its plan for the 2020-2025 five-year period — when it plans to grant financing for $15 billion.

Mossi said the members stressed that it is necessary to support large projects such as the Costa Rican interurban train, regional electrical interconnection, and financial support for governments and businesses in the region with a view to post-pandemic economic recovery.

Trending Now

How the US Shutdown Could Disrupts Travel to Costa Rica

As the US federal government enters a partial shutdown starting today October 1, travelers heading to Costa Rica face potential hurdles. The impasse stems...

Costa Rica Bill Targets Pretrial Detention for Organized Crime Cases

Costa Rica's Legislative Assembly is moving forward with a bill that aims to strengthen the rules around pretrial detention in response to growing threats...

El Salvador Bans Inclusive Language in Public Schools

El Salvador's President Nayib Bukele has taken another step to reshape the country's education system. On Thursday, he declared a complete ban on what...

US Revokes Visa of CRHoy Owner Amid Fraud Allegations

The US government revoked the tourist and business visa of Leonel Baruch, the businessman behind Costa Rican news site CRHoy. Reports connect the move...

Learning Spanish Through Music in Costa Rica: Misheard Lyrics and Wins

One of the most challenging parts of learning a language is understanding songs in that language. In my early days of learning Spanish, I...

Costa Rica TSE Seeks to Lift President Chaves Immunity

Costa Rica's electoral tribunal has stepped up pressure on President Rodrigo Chaves by asking lawmakers to strip his immunity over claims of political interference...
spot_img
Costa Rica Coffee Maker Chorreador
Costa Rica Coffee Maker Chorreador
Costa Rica Travel Insurance
Costa Rica Rocking Chait
Costa Rica Travel

Latest News from Costa Rica