Costa Rica Advances in the Development of Sustainable Mobility Initiatives

    The projects for electric passenger and cargo trains have the backing of the multilateral CABEI, which also supports private sector initiatives

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    Costa Rica is a benchmark country for sustainability and environmental conservation and, in line with this, it is advancing in the development of mobility initiatives that are low in greenhouse gas emissions, both in mass transportation of people, cargo and private that direct it to meet one of the goals of Development Goal 11 (SDG) such as that, by 2030, countries are able to provide access to safe, affordable, accessible and sustainable transport systems for all.

    Along these lines, the Central American Bank for Economic Integration (CABEI) provides technical financial support to its founding partner country in meeting this goal, promoting two public initiatives such as the Fast Passenger Train, with a US$550 million loan that is supported by the Green Climate Fund; as well as two cooperation agreements for US$1.5 million for the studies that determined the feasibility of the Limonense Electric Cargo Train (TELCA) between Moín in Limón and Muelle in San Carlos, with the potential to move up to eight million tons by 2025.

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    A priority issue

    “Sustainable mobility is a priority issue for CABEI and it is in line with our 2020-2024 Institutional Strategy, specifically in the Environmental Sustainability pillar with which we promote the approval of projects that address the need to preserve the environment, and it is for this reason, Costa Rica has our full support to develop public and private initiatives that allow it to continue being a benchmark on this issue in the region”, highlighted the executive president of CABEI, Dr. Dante Mossi.

    From the private sphere, through financial intermediation in 2022, important disbursements have been made to advance in this matter also from the personal sphere, with disbursements of US$12.5 million aimed at financing private electric or hybrid vehicles. Also with non-reimbursable cooperation, coming from the tripartite initiative between the

    CABEI, the European Union and KfW Green Mipymes II Initiative that allow strengthening the capacities of the Bank of Costa Rica for the financing of electric public buses, and of the National Chamber of Transportation on the financing and specifications of the units; as well as Correos de Costa Rica to replace 100 conventional vehicles with electric ones.

    In line with its strategy, efforts are also made within the institution, promoting among collaborators a “green” financing line for the acquisition of electric or hybrid vehicles; as well as the setting up of a charging station inside the Costa Rican representative office.

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