World Bank approves new Costa Rican loan for natural disasters

March 24, 2023 11:09 AM AEDT | By Reuters
Follow us on Google News:
Image source: Reuters

SAN JOSE (Reuters) - The World Bank approved a $160 million loan for Costa Rica on Thursday aimed at strengthening its ability to manage risks linked to natural and pandemic-related hazards, the lender said in a statement.

The loan will ensure the Central American country's government has sufficient cash to handle future natural disasters, and includes a three-year drawdown period, the statement said.

The new credit marks the World Bank's second loan to Costa Rica tied to tackling the impact of natural disasters such as hurricanes, with the first one approved in 2008 for $65 million.

Elected last year, Costa Rican President Rodrigo Chaves is a former World Bank economist.

(Reporting by Alvaro Murillo; Editing by Anthony Esposito and Leslie Adler)


Disclaimer

The above content is directly sourced from Reuters under a contractual arrangement. The content is being provided as a convenience and for informational purposes only; and does not constitute an endorsement or approval by Kalkine Media of any of the products, services, or opinions of the organization or individual. The user is apprised that Kalkine Media bears no responsibility for the accuracy, legality, or content of Reuters, any external sites, or for that of subsequent links. The user is requested to contact Reuters directly for answers to questions regarding the content. Please note that Kalkine Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.



Top ASX Listed Companies

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK