CABEI to Provide $240 Million for Water, Sanitation Projects in Costa Rica

28 Apr 2015 by OOSKAnews Correspondent
MEDELLIN, Colombia
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The Central American Bank for Economic Integration (CABEI) is lending Costa Rica $360 million USD for economic and social development project during 2015-2019. Of that total, $240 million USD will go toward water and sanitation projects.CABEI President Nick Rischbieth announced the loans during the bank’s 55th Board of Governors Meeting in Medellin, Colombia last week.The funds are part of the Tegucigalpa-based bank's $8.76 billion USD program on “Integrating Development and Sustainable Competitiveness” in Central America.Costa Rica’s portion of the financing will largely be channeled to country’s Water and Sanitation Institute (AyA), but the CABEI is also planning to support the Costa Rican Institute of Electricity’s $140 million USD Cachi hydropower expansion project...

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