Towards a Green Economy: Support for Costa Rica’s Decarbonization Plan

The project's general objective is to support the country's progressive transition to net zerogreenhouse gas (GHG) emissions by 2050, benefiting the entire population, through reforms to: (i) strengthen management andmonitoring of climate action in Costa Rica; (ii) conserve and restore ecosystems with high rates of GHG sequestration andreplace GHG-emitting agricultural practices with GHG-sequestering ones; and (iii) incentivize the use of electric power. Thenecessary policy reforms to implement the National Decarbonization Plan will be supported under these subsectors.This is the first loan in a series of two consecutive single-tranche operations that are technically related to one another butcontractually independent and financed as programmatic policy-based loans.

Project Detail

Country

Costa Rica

Project Number

CR-L1142

Approval Date

March 11, 2020

Project Status

Closed

Project Type

Loan Operation

Sector

ENVIRONMENT AND NATURAL DISASTERS

Subsector

CLIMATE CHANGE MITIGATION POLICY

Lending Instrument

Préstamo de Apoyo a Reformas de Política

Lending Instrument Code

PBL

Modality

PBP (Programmatic Policy Base Loan)

Facility Type

Environmental Classification

Uncategorized Directive B.13

Total Cost

USD 380,000,000.00

Country Counterpart Financing

USD 0.00

Original Amount Approved

USD 230,000,000.00

Financial Information

Operation Number	Lending Type	Reporting Currency	Reporting Date	Signed Date	Fund	Financial Instrument
4988/OC-CR	Sovereign Guaranteed	USD - United States Dollar	Jun. 28, 2024	Mar. 23, 2020	Ordinary Capital	Flexible Financing Facility

Operation Number

4988/OC-CR

Lending Type: Sovereign Guaranteed
Reporting Currency: USD - United States Dollar
Reporting Date: Jun. 28, 2024
Signed Date: Mar. 23, 2020
Fund: Ordinary Capital
Financial Instrument: Flexible Financing Facility

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Implementation Phase

https://www.iadb.org/document.cfm?id=EZSHARE-965128629-48706

Loan Contract

Hacia una Economía Verde - Apoyo al Plan de Descarbonización de Costa Rica.pdf

Mar. 16, 2020

Spanish

https://www.iadb.org/document.cfm?id=EZSHARE-965128629-48707

Loan Contract

Towards a Green Economy - Support for Costa Ricas Decarbonization Plan.pdf

Mar. 16, 2020

English

https://www.iadb.org/document.cfm?id=EZSHARE-1151369642-92

Loan Proposal

Costa Rica. Propuesta de préstamo para el proyecto “Hacia una Economía Verde. Apoyo al Plan de Descarbonización de Costa Rica” CR-L1142.pdf

Feb. 27, 2020

Spanish

https://www.iadb.org/document.cfm?id=EZSHARE-1151369642-91

Loan Proposal

Costa Rica. Loan proposal for the project “Towards a Green Economy. Support for Costa Rica’s Decarbonization Plan” CR-L1142.pdf

Feb. 27, 2020

English

https://www.iadb.org/document.cfm?id=EZSHARE-2056220512-8176

Loan Contract

Programa Hacia una Economía Verde - Apoyo al Plan de Descarbonización de Costa Rica.pdf

May. 21, 2020

Spanish