Costa Rica’s President Óscar Arias has signed into law a reform bill to allow state banks to increase to 20% from 6% the financing of infrastructure works. The new legislation aims to increase the number of public works and at a lower cost as the interest rates of state banks are lower.
Private financial institutions can finance up to 23% of public works initiatives. Projects to be benefitted by the new law include highways, aqueducts and hydroelectric dams.
Source: BNamericas [subscription site], 03 Sep 2009