IDB approves a $300 million loan for Costa Rica to support decarbonization

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The Inter-American Development Bank (IDB) approved this Wednesday, July 20, a $300 million loan for Costa Rica aimed at supporting the National Decarbonization Plan that the country launched in 2019. The credit is composed of $250 million of ordinary capital from the IDB, plus $50 million granted by the South Korean government to be administered by the bank. It will also include parallel financing for 100 million euros (almost $102 million at the current exchange rate) from the French Development Agency (AFD). With this co-financing, Costa Rica would receive funds of close to $400 million. The loan has an amortization term of 20 years and a grace period of 5 and a half years. The Decarbonization Plan sets goals for the year 2050 in order to turn Costa Rica into a green, emission-free economy.

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