The Central American Bank for Economic Integration Approves $ 300 Million to Costa Rica to Mitigate the Effects Caused by the Pandemic

In order to support the Republic of Costa Rica in mitigating the economic effects caused by COVID-19, strengthen its fiscal sustainability, maintain low-carbon its development plan and strengthen its macroeconomic stability, the Central American Bank for Economic Integration (CABEI ) approved loans for US $ 300 million to the country.

In this way, Costa Rica becomes the first nation to receive the maximum amount of US $ 250 million annually available to each country within the Development Policy Operations Program (OPD). In addition, it receives the additional US $ 50 million to respond to the emergency caused by the Pandemic within the framework of CABEI’s Regional Program of Support and Preparation for COVID-19 and Economic Reactivation.

These fast-disbursing financial resources will help to strengthen the fiscal sustainability of Costa Rica and lay the foundations for economic recovery, promoting the growth and environmentally friendly development that characterizes Costa Rica.

“The primary objective of CABEI’s Development Policy Operations Program (OPD) is to financially support its member countries in the implementation of actions that allow the reactivation and strengthening of their economies, seeking their macroeconomic stability,” stressed the Executive President of CABEI. , Dr. Dante Mossi.

Referring to these funds, the Minister of Finance, Elian Villegas pointed out: “In the midst of this Pandemic that also attacks the financial health of Costa Rica, CABEI’s credit allows us to maintain the internal market without excessive pressure, so that the Costa Rican savings support the economic reactivation effort that must go hand in hand between the Government and private companies; so this is a way to collaborate in that national effort, which is imperative at the present moment for the country. ”

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