© Reuters. The emblem of the World Bank is displayed at the 2023 Spring Meetings of the World Bank Group and the International Monetary Fund in Washington, U.S., April 13, 2023. REUTERS/Elizabeth Frantz/File Photo
SAN JOSE (Reuters) – Costa Rica has been granted a $350 million funding by the World Bank to support projects concerning infrastructure development and enhancing climate and disaster resilience, the institution announced on Friday.
The funds are intended for directing investments towards essential infrastructure projects aimed at flood control, slope stabilization, and the restoration of bridges and highways affected by weather-related catastrophes.
According to Costa Rica’s finance minister, Nogui Acosta, the country faces significant vulnerability to extreme weather events and natural disasters, amplifying the associated risks. Acosta mentioned in a statement issued by the World Bank, “This initiative is in harmony with the nation’s approach towards countering climate change by building resilience and will further our commitment to bolstering robust infrastructure and services to shield inhabitants in the most precarious regions.”