Taxi operators will get a new financial package

Taxi drivers will be getting a break to buy new vehicles.

The Ministerio de Economía, Industria y Comercio said Monday that a new program would be announced to allow a new financing package.

Taxis have a useful life of 15 years. After that the owner must replace the vehicle. There are 13,500 licensed taxis in the country, so about 500 vehicles a year have to be replaced.

The project is being done by the ministry, the Federación Nacional de Cooperativas de Taxis, Banco Popular and the Sistema de Banca para el Desarrollo.

Full details will be announced later today.

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