Costa Rica's Alvarado seeks water loan approval

Costa Rica's President Carlos Alvarado called special sessions of congress to discuss a bill to approve a US$55mn loan from the Central American Bank for Economic Integration (Cabei).

The 20-year loan, inked by the parties in early January, will finance a sewerage and flood-control program in Limón province, the government said in a release. The credit has a five-year grace period.

Water utility AyA and underground water, irrigation and drainage service Senara are expected to provide US$1.61mn in counterparty funds.

According to Alvarado, the program is part of other ongoing efforts in the province – such as building an electric cargo rail line – to boost economic development.

Some 43,800 residents of Limoncito, Envaco, Pueblo Nuevo and Los Baños will benefit from the sewerage project.

The program includes 10.3km of sewerage main lines, 24 pumping stations and 65.8km of pipelines, allowing for 7,776 new household connections.

A second component involves constructing a flood mitigation system in the lower basin of the Limoncito river.