Costa Rica Gets IDB Funds

Costa Rica will receive $93m to help improve water and sanitation services, adding to existing financing of $223m toward the project. The Spanish government will provide a $20m grant, while the IDB is providing a $73m loan with a 25-year term, a 6-year grace period and an interest rate based on Libor. The Costa Rican government will also invest $77m of its own money, and has an existing $150m loan from the Japan International Cooperation Agency.