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HomeNewsCosta Rica Invests Technical and Non-Reimbursable Cooperation Funds

Costa Rica Invests Technical and Non-Reimbursable Cooperation Funds

The Ministry of Foreign Affairs and Worship explained how the country’s funds for technical and non-reimbursable cooperation are invested.

Non-reimbursable cooperation refers to all those financial resources that Costa Rica receives and does not have to repay. These funds come from bilateral and multilateral sources to support and accompany development projects. 

During the year 2021, technical and non-reimbursable cooperation received by Costa Rica increased by almost 82%. It augmented from 121.6 million dollars to 220.9 million dollars. This was detailed in the most recent report of the Ministry of Planning (Mideplan) on International Cooperation in Costa Rica 2021.  

“The amount is historical as these levels of cooperation have not been recorded in the country since the 1990s,” the MIDEPLAN report states.

According to the Ministry of Foreign Affairs, these funds are assigned to investment projects associated with environmental action, the fight against climate change, energy, telecommunications, and the health sector.

For example, the funds provided during 2021 amounted to approximately $84 million and were invested in decarbonization and climate change projects. 

Korea, Norway, the Green Climate Fund, the Coalition to Reduce Emissions by Accelerating Forest Finance (LEAF), the European Union, the Organization of American States (OAS), UNHCR, the Pan American Health Organization (PAHO), and the United Nations Development Program (UNDP) were among the main donors.

Similarly, other donors, such as the United Arab Emirates and Saudi Arabia, provided significant non-reimbursable donations in Humanitarian Aid to address the effects of the COVID-19 pandemic.

During his first visit to the United Nations in New York, Foreign Minister Arnoldo André emphasized the importance of non-reimbursable cooperation to address migration and environmental and social development challenges.

“Our main challenge must be to ensure that no one is left behind. That is why we must continue to advocate for a transformation that adapts our development cooperation and financing systems to the goals and targets agreed in the 2030 Agenda to promote true recovery,” said the minister.

In addition, the tourism sector received the most support from technical cooperation, with a total amount of US$2.88 million.

The Minister explained that this administration is committed to sustainable development, improving the quality of life of the most vulnerable people, a green agenda, and actions to ensure transparency and digital governance.

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