The IDB Grants $100 million to Costa Rica for Natural Disasters

The Inter American Development Bank (IDB) approved a standby loan of $ 100 million to Costa Rica to strengthen the country’s capacity to respond to natural disasters.

The international agency said that due to its geographical location, Costa Rica is highly exposed to meteorological and geophysical hazards such as earthquakes, floods and tropical cyclones.

“in the past 40 years, Costa Rica has experienced 53 natural disasters of various kinds and has suffered economic losses exceeding $1 billion dollars that have affected 1.7 million people,” said Juan Jose Durante, team leader IDB project in a press release.

“Added to this, is the second country in the world most vulnerable to multiple threats, with 37 percent of its total area vulnerable to three or more kinds of threats,” said Duarte.

The loan granted to Costa Rica access to contingency funding to meet extraordinary public expenditures caused by natural emergencies.

Among the items to be covered by the credit include: medical equipment, vaccines and medicines, facilities and equipment for temporary shelters, food for populations affected, and the cost of emergency personnel needed to meet the victims.

Also included the short-term rental of equipment and facilities, energy, transport and communications, and storage spaces; temporary rehabilitation of infrastructure and basic services to resume immediately after the disaster.

The Costa Rica News (TCRN)
San Jose Costa Rica

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