CABEI agrees $425m loan for Costa Rican water supply project
The Central American Bank for Economic Integration (CABEI) has agreed a $425 million loan for the Project: System of Water Supply for the Mid Basin of the Tempisque River and Coastal Communities to benefit the counties of Nicoya, Santa Cruz and Carrillo in Costa Rica. The interest rate on the loan is 5.4% annually.
The plan is to build a dam in the Piedras River with a maximum height of 40m (131 feet) and an extension of 485m (1,591 feet), located 53.5m (175.5 feet) above sea level to create a reservoir for water supply all year long. The cost of this dam is estimated in $142.5 million.
A 55km (35 miles) long canal with a width between 16-20m (52-65 feet) from Piedras River to the community of Palmira, that will allow to move 20 cubic meters of water per second, is also proposed, along with a distribution network of 350km in extension between primary, secondary and tertiary canals.
