Development bank gets first OK

With the support of 54 lawmakers, the proposal for a  Banca de Desarrollo received its first legislative approval Monday. This is a plan to unify the state banks to provide money for development, promotion and productive projects.

The proposal also affects private banks that do not join in the system. They will have some restrcitions on interest rates in making loans for the same purpose.

There is 250 billion colons, nearly $500,000, designated for the project. Lawmakers said that tourism operators wold be able to participate, too. The project has been in the legislature for six years. A second vote later in the week with send the measure to the president.

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