LatinNews Daily - 30 June 2021

In brief: World Bank approves new loan for Costa Rica

* The World Bank (WB) has approved a US$300m loan in support of Costa Rica’s government efforts to protect people’s income and jobs from the impact of the coronavirus (Covid-19) pandemic, strengthen small and medium enterprises (SMEs), reinforce fiscal sustainability, and lay out foundations for a strong post pandemic recovery based on green and low-carbon development. Costa Rica’s GDP contracted 4.1% in 2020 as a result of the pandemic. A WB press release cites Costa Rica’s finance minister, Elian Villegas, as saying that this “operation is part of a solid and long-lasting relationship with the World Bank…It supports our efforts to respond to the different waves of the pandemic, while continuing to set the conditions for a strong and sustainable recovery through economic, fiscal, and climate-action reforms.” The press release highlights that this loan builds on a previous US$300m loan approved in June 2020.

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