WB approves $72.5 mn to revitalize City-Port of Limon
10 Jan '08
3 min read
Local economic development: Activities to generate new sources of employment and income, seizing the opportunities presented by growing cruise tourism and the historical and cultural richness of Limon.
Local governance and city-port strategic planning: Technical assistance for the Municipality of Limon to improve its capacity to deliver quality services and to take an active role in the city's development.
Support for improving the port environment: Actions to improve transport access to the Limon and Moín port terminals and technical assistance to the Transport Ministry to support the concessions process and transport system for Moín and Limon.
“The City-Port of Limon Project is part of the Government of Costa Rica's regional development strategy for the Province of Limon, which also aims to address poverty and social problems,” said Emmanuel James, World Bank task manager for the project. “It has been designed to help develop the capacity of local and central governments to address the needs of lagging regions.”
This US$72.5 million fixed-spread loan from the International Bank for Reconstruction and Development (IBRD) is payable in 15 years, including 5 years of grace.
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