Central Government To
Pass On To
Municipalities The us$50
Million Dollars It
Expects From China
Costa Rican president
Óscar Arias yesterday
offer to transfer to
local municipalities the
us$50 million dollars he
plans to ask from the
Chinese government that
will be either in a form
of a loan or donation.
The amount will be
included in the 2008
budget so that
"municipalities better
their services and
infrastructure in
schools, road and public
security", said Arias.
The us$50 million will
be managed by the
Instituto de Fomento y
Asesoría Municipal (IFAM),
which is headed by Fabio
Molina.
In a press bulletin,
Molina said that the
funds to be given to the
municipality are not
recoverable, though the
ministro de Hacienda
(Revenue minister),
Guillermo Zúñiga, who
was sitting at the table
next to Molina, said
that it is yet unclear
if the money will be in
the form of a loan.
Zúñiga said that the
funds are part of a
financial package that
the government is
negotiation with China,
Costa Rica's new trade
partner since June 1
when the Arias
government broke a 63
year diplomatic
relationship with Taiwan
in favour of relations
with China.
The us$50 million is to
be directed to satisfy
the demands of the local
mayors to "strengthen
their municipal capacity
as part of the benefits
of the TLC", said the
letter given to Arias by
the mayors supporting
the free trade deal with
the United States that
will be voted by Costa
Ricans in the October 7
referendum.
Zúñiga said that the
government will do its
best to comply with the
demands of the mayors.
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