Overseas Property Investment

Costa Rica is not only a popular investment destination for foreign individuals, businesses and industries; it is increasingly receiving funds from foreign governments and multi-national organizations as well. Two recent examples are investments by the World Bank and the Chinese government.

The World Bank approved a three-year, $258 million lending program in early September. The program includes $65 million in quick-disbursing funds to cover damages should Costa Rica be struck by a major natural disaster, $13 million for telecom reform, $80 million for secondary education and skills development, and $100 million for the Puntarenas integrated infrastructure development project.

The World Bank program will also help Costa Rica work with the Forest Carbon Partnership Facility (FCPC), which is designed to reduce greenhouse gas emissions by promoting incentives for emissions reduction.

Costa Rica is one of the first 14 participants in the FCPC, launched by the World Bank last year as part of global efforts to address climate change caused by deforestation. (See the World Bank’s press release for additional information.)

Meanwhile, the Chinese government is financing an ecological and recreational park in Jaco, also in the province of Puntarenas. This park, in conjunction with an expansion of the town’s main street, will help increase property values in the area, in addition to maintaining some of the natural beauty of the area as development continues.

The Jaco project is part of the Costa Rican government’s initiative to build new public parks and keep the country beautiful as it becomes more and more popular among foreign residents and investors.

Posted in Costa Rica Developments, International Relations   Tagged: Investment, Jaco, Puntarenas, World Bank