Costa Rica lawmakers say they’ll take $65 million World Bank loan
January 16th, 2009 | by admin |Costa Rica will soon be able to access a $65 million credit line from the World Bank to rebuild villages devastated by the Jan. 8 earthquake.
The loan, awarded in November to deal with any type of natural disaster, was cleared by lawmakers Thursday in an initial vote. Lawmaker Oscar Núñez of the governing National Liberation Party (PLN) said Costa Rica will likely use the entire loan to rebuild the provinces of Alajuela and Heredia, where hundreds of houses and vast stretches of highways are in shambles.
On Wednesday, President Oscar Arias asked foreign governments to be more generous. The United States has donated $50,000, China has given $100,000, and the Inter-American Development Bank has given $200,000, among other donations. The daily La Nación reported that the United Nations gave $240,000.
“Now that we have to rebuild schools, houses, highways, and electricity and water infrastructure, the country opens its doors to any help,” said Arias, noting that money is more welcome than nurses or clothes.
Lawmakers are expected to approve the World Bank loan in a second and final debate Tuesday. The money must be repaid within 30 years at 2.25 percent interest.
