Scotiabank will handle road and port funds

Scotiabank will be the trustee of some $450 million that will be used for street and port projects. The agreement was made with the Ministerio de Obras Públicas y Transportes.

The Interamerican Development Bank is loaning the money, and the bank here will oversee the disbursement.

Now that the agreement has been reached, road agency officials said they would begin steps for bids on various projects.

The bank agreement is for five years.

This is not the first time that Scotiabank handled a large sum of money for a government project. The Instituto Costarricense de Electricidad entrusted the bank with international loans for the Proyecto Hidroeléctrico Reventazón. The amount was $903 million.

This entry was posted in Costa Rica News. Bookmark the permalink.