Fiscal Policy for Climate Change in Costa Rica (IADB-CR-T1266)

Countries
  • Costa Rica
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Inter-American Development Bank (IADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Borrower
Government of Costa Rica
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Climate and Environment
  • Finance
  • Law and Government
  • Technical Cooperation
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 0.55 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IADB website

Updated in EWS Jun 23, 2023

Disclosed by Bank Jun 20, 2023

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the IADB, the objective is to support the Ministry of Finance of Costa Rica and the Ministry of Planning and Economic Policy regarding the integration of climate action into its fiscal policy and management. To achieve this objective, this Technical Cooperation will finance three types of activities:
(i) development of a fiscal management framework for climate change;
(ii) support for the implementation of policy instruments for green fiscal management; and
(iii) dissemination of knowledge and exchange of good practices.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

IADB Team Leaders:

Martin Jorge Ardanaz
Valentina Saavedra Gomez

No contacts available at the time of disclosure.

Implementing Agencies -

Ministry of Finance:

Address: San Jóse, Avenida 2da, Costa Rica
Phone: +506 2539-4777
Email: comunicacionmh@hacienda.go.cr
Website: https://www.hacienda.go.cr/

Ministry of Planning and Economic Policy:

Address: San Pedro de Montes de Oca, 75 este y 200 norte de Automercado Los Yoses, Edificio Adrático, San José, Costa Rica
Phone: +506 2202-8400
Email: comunicacion@mideplan.go.cr   
Website: https://www.mideplan.go.cr/

ACCOUNTABILITY MECHANISM OF IADB

The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IIC)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IIC is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).

How it works

How it works