China donates $50 million USD for Costa Rican municipal governments
Pledged amount
$ 89963219.14420499
Adjusted pledged amount
$ 89963219.14420499
Constant 2021 USD
Not recommended for aggregates
This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.
Summary
Funding agency [Type]
Unspecified Chinese Government Institution [Government Agency]
Recipient
Costa Rica
Sector
Government and civil society (Code: 150)
Flow type
Grant
Infrastructure
No
Category
Project lifecycle
Description
On June 1st, 2007, China pledged to make a donation to support Costa Rica's municipal governments. The MOU related to the amount was released on Costa Rica's Ministry of Foreign Affairs (MREC)'s website, upon the Costa Rican news outlet La Nacional's leak of the agreement and subsequent public pressure to release its terms. The total value of this donation is $50 million USD, and this fund is part of the 2007 financial package (total amount: $130B USD) that Costa Rica negotiated with China in exchange for switching official recognition from Taiwan to China. The Costa Rican government has noted plans to use this money to increase tax revenue and invest in academic infrastructure, road construction, domestic security, and supporting vulnerable populations within the country.
Number of official sources
2
Number of total sources
8
Details
Cofinanced
No