President states that for the first time in many years, Limón will be a priority Project will rehabilitate a good part of railroad system in order to clear traffic along Route 32
San José, Costa Rica, February 27, 2008 – The President of the Republic, Óscar Arias Sánchez, the Finance Minister, Guillermo Zúñiga, and the World Bank Director for Central America, Laura Frigenti, signed today at the Presidential Palace a loan agreement for $72.5 million to finance the rehabilitation of the city of Limon and support the modernization of its port. This sum will be complemented with $7.5 million in counterpart funds from the Costa Rican government, for a total of $80 million. “Today, we have the privilege of fulfilling a promise and settling a debt. Today, we have the privilege of lifting the burden that for centuries Costa Rica has carried on its shoulders. Limon will never again be a forgotten province. I said it many times during the political campaign and I repeat it now: as long as I am President, Limón will not be alone, my eyes will gaze towards the east, to that coast where the conquistadors landed, and where soon enough dreams will set sail from this province which is ready to weigh anchor,” President Arias said. “Eighty million dollars will be invested in this project. Forty billion colones. For the first time in many years, Limon will be a priority. Step by step, we will see how this shell that was buried in the Caribbean sands will open up and the pearl that was hidden will shine bright before our eyes and before the eyes of the world,” the Costa Rican President added. “Over the next five years and with the participation of 14 institutions, this loan will enable us to implement works ranging from the restoration of historic buildings to the construction of recreational and cultural parks, completion of the sewage system so that it covers the whole city, works that will prevent flooding of the Limoncito river basin, municipal strengthening, improving access to the harbor terminal at Moín, and reactivating a good portion of railroad traffic in order to reduce congestion on Route 32,” the Minister of Coordination, Marco Vargas, said. The City-Port of Limon Project is part of the Costa Rican government’s comprehensive development strategy for Limón province and will create opportunities for the province’s inhabitants through the revitalization of production generated by improvements in infrastructure. “This initiative aims to elevate the competitiveness of a port in a strategic location for Costa Rica’s foreign trade, and at the same time, to improve the quality of life for Limón’s residents through a series of actions to promote tourism and the area’s cultural and historic identity. Improving Costa Rica’s competitiveness through modernization of the port will lead to a better quality of life for its people. These two aspects go hand in hand,” Frigenti emphasized. The City-Port of Limon Project is expected to improve living and working conditions in one of Costa Rica’s poorest cities. The project aims to create spaces so that Limón residents can take advantage of the opportunities that the port’s development will bring and improve their income and living conditions.
The City-Port of Limon Project will help meet these challenges by supporting activities in four key areas: Urban and cultural revitalization: Investments focused on rescuing Limon’s unique cultural identity, while improving the city’s urban environment (sewerage, drainage, paving of streets) and attractiveness to visitors. 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 Moin port terminals and technical assistance to the Transport Ministry to support the concessions process and transport system for Moin and Limon.
The loan is repayable in 15 years, including five years of grace.
Contacts:
Government of Costa Rica:
Eugenia Sancho
Esancho@casapres.go.cr
(506) 207-9321 Lisbeth Barboza
lbarboza@casapres.go.cr
(506) 207-9293 World Bank:
Alejandro Cedeño (202) 473-3477
Acedeno@worldbank.org
Stevan Jackson (202) 458-5054
Sjackson@worldbank.org For more information visit the page of City-Port of Limon Project or www.limonciudadpuerto.com ##### For more information on the World Bank’s activities in Costa Rica, please visit: http://www.worldbank.org/costarica |
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