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Legislature Passes Accord on
European Credit Line
The Costa Rican Legislative
Assembly approved the framework
agreement on a credit line of
us$200 million dollars offered
by the European Investment Bank.
Costa Rica's legislature,
approved the agreement in the
first reading on Tuesday. The
credit is expected to be
available in 2007 for Costa
Rica's infrastructure,
especially for road construction
Mayi Antillon, head of the
ruling Partido Liberación
Nacional (PLN), said the project
was very important to Costa Rica
as it would lead to millions of
dollars worth of investments in
the much needed public
infrastructure sector, one of
the pillars of the Development
Agenda being pursued by the
current government.
The European Union had set March
30 as the deadline for Costa
Rica's approval of the credit
agreement.
The text was first agreed on
Jan. 10, but the process was
held up as some parliamentarians
sought to add three qualifying
clauses.
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