IIC Will Support The Growth Of The Private Sector In Costa Rica In The Telecommunications Field

03/22/2000

IIC funding to go to a key industry WASHINGTON, D.C. — On February 29, 2000, the Board of Directors of the Inter-American Investment Corporation (IIC) approved a $4.2 million loan to Consorcio Celsa Dimmsa Telepsa Limitada (CONDICEL). The project will expand telephone service in Costa Rica by installing and maintaining 15,000 public telephone booths and leasing them for six years to the national telephone and electric company, Instituto Costarricense de Electricidad.

The IIC loan will further the decentralization of services because public telephones will be installed in rural areas of the country, not only in the major cities. The project will double the number of public telephones in Costa Rica.

The funding from the IIC is expected to help generate about $35 million in added value. In addition, the project should create ninety jobs.

Contact: Roldan Trujillo

Telephone: (202) 623-3922

Email: sylviasz@iadb.org