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LatinNews Daily - 31 October 2019
In brief: Costa Rica secures US$550m for electric train
* The Central American bank for economic integration (BCIE) has approved a US$550m loan to Costa Rica for the construction of an electric train that will connect the cities of San José, Cartago, Heredia, and Alajuela among others. The loan will support the state contributions to the project, whose total value is estimated to be around US$1.2bn. In a press statement, the BCIE said that among the main impacts of the electric train will be “the creation of 1,000 temporary jobs for its construction activities, the creation of 461 permanent jobs while it operates with at least a 22% female participation, and the reduction of carbon dioxide emissions, road congestions, and road accidents”. The loan is for a 25-year term, with a five-year grace period and an annual interest rate of 4.95%.
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