In order to recover part of the resources used by the Government to restore road infrastructure and basic water services affected by Tropical Storm Nate, the government will resort to a loan granted by the Inter-American Development Bank (IDB).
The Executive Branch has already presented the Legislative Assembly with bill 20,747, “Approval of Loan Agreement No. 4433 / Oc-Cr for the emergency program in response to the Tropical Storm Nate”.
This project contemplates a loan of $20 million from the IDB and consists of a financing modality for the “Immediate Response Facility”, which seeks to help countries cover urgent expenses for the resumption of basic services to the population affected by a disaster.
With these resources, the expenses of dealing with this emergency and those that deemed fit by the IDB will be retroactively financed. All expenses must be proportionate with the damages reported in the general plan of the corresponding emergency.
The executing agency will be the National Commission for Risk Prevention and Emergency Response (CNE) as the governing body in this area, with the support of the National Road Council (CONAVI) and the Costa Rican Institute of Aqueducts and Sewers (AyA), which will act in its nature as sub-executing agencies, according to its competences.
The term of the loan is 25 years and the disbursement to 12 months from the date of entry into force of the contract. The administration of the loan resources will be done under the Single Fund principle, for which the National Treasury would credit the resources coming from the disbursements in an account in favor of the National Emergency Fund.