CABEI and INCOFER sign agreement to modernize Costa Rica's railway network

The Central American Bank for Economic Integration (CABEI) signed a memorandum of understanding with the Costa Rican Railway Institute (INCOFER) with the aim of developing strategies for the definition of regional railway projects and providing financing for such potential projects.

CABEI Executive President Dr. Dante Mossi stated that “In the framework of the PRECOP25 inauguration and in line with its efforts of becoming a leading country in environmental matters through its Decarbonization plan, CABEI is pleased to support the country and INCOFER in the development of an electric passenger train for the greater metropolitan area.”

With regard to the agreement, CABEI’s goal is to provide integral support to the Greater Metropolitan Area Electric Train project by providing funding to the Central Government to finance the national counterpart in the project’s development, while offering advice and financing to the concessionaire that results winner of the project tender process; this will guarantee a more effective and expeditious financial closing.

Over the last decade, CABEI has been the main financier of road and hospital infrastructure throughout the entire Central American region. By means of its financing of the Electric Train in Costa Rica, it seeks to become the main ally of the countries of the area regarding railway project development.

Original source: BCIE
Published on 08 October 2019