Costa Rica gets $350 million loan from World Bank for infrastructure, climate projects

Costa Rica will be able to finance infrastructure, climate change adaptation, and disaster resilience projects with a $350 million loan from the World Bank, the lender announced Friday.

The program will finance repairs of roads and bridges damaged by weather-related disasters, as well as investments in vital infrastructure for slope stabilization and flood control.

As stated by the World Bank, Costa Rica “remains highly exposed to extreme weather events and natural hazards, which increase the impact of these risks,” according to Nogui Acosta, the minister of finance.

“This project is aligned with the country’s strategy for mitigating and adapting to climate change and will support our priority of investing in resilient infrastructure and services to protect people living in the most vulnerable areas,” Acosta added.