IDB approves USD300mn loan to underpin Costa Rica’s decarbonization plan

The Inter-American Development Bank (IDB) approved a USD300mn loan to continue to back Costa Rica’s National Decarbonization Plan, which aims for net-zero emissions by 2050. The IDB loan is the second in a series of two programmatic policy-based lending operations. The latest loan will enable Costa Rica to deepen the reforms of the first USD230mn operation approved in 2020. The goal of these reforms is to bolster climate action management and monitoring, preserve ecosystems that effectively sequester greenhouse gases, incentivize the use of electrical energy and active mobility, and boost inclusion and gender equality in the shift to a green economy.