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.
Source: Economy - investing.com
