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CR-L1142 : Towards a Green Economy: Support for Costa Ricas Decarbonization Plan

Project Status: Closed

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

Project Number
CR-L1142
Project Country
Costa Rica
Project Sector
ENVIRONMENT AND NATURAL DISASTERS
Project Subsector
CLIMATE CHANGE MITIGATION POLICY
Project Type
Loan Operation
Environmental and social impact category
B13
Project Status
Closed
Operation Number
4988/OC-CR

Financial Information

Project Number
CR-L1142
Project Status
Closed

IDB Financing

Financing type
FFF
Fund
Ordinary Capital
Reporting currency
USD - United States Dollar
Reporting date
Oct/30/2020

Roles & Responsibilities

Contract signature date
Mar/23/2020

Project Information

Total Cost
USD 380,000,000
Country counterpart financing
USD 0
Amount
USD 230,000,000