Costa Rica has signed a credit line with the Inter-American Development Bank (IDB) for US$500 million to drive clean energy development in the electricity and transportation sectors. Costa Rican President, Carlos Alvarado, has prioritized decarbonization for the electric sector, and wants to lead in the transportation sector, as well. “A nation that produces 99% of electricity from clean energy and is able to do the same for its transportation sector must lead the way”, said Alvarado.
More specifically, the IDB funds will be used for development of geothermal energy, public transportation, and providing of clean energy to some public offices.
