12
The Costa Rican Executive branch will add an extra $200 million for the project which will bring the sum up to a little more than $1 billion to be invested in roads, Metro Train, airports and alternate transportation access.
The funds will be distributed among several projects that are well on their way and just waiting for the final budget. One of the most awaited projects is the implementation of the Metropolitan Electric Train which has been around for over 10 years.
A new airport will also be built in Costa Rica’s South Pacific as well as numerous road systems and over 60 bridges along the Inter-American Highway in its Northern sector. Authorities have also mentioned that at least $30 million will be invested in modernizing and restructuring the public transportation service.
This $850 million loan will be the largest Costa Rica has received so far to be invested in the country’s infrastructure. The loan is to be paid off in 20 years and has an interest rate of 5.64%. The last loan Costa Rica has received to be used for infrastructure was in 1991 and was for $60 million.
