WASHINGTON, USA – IDB Invest has signed a financing agreement of up to $5 million with Zona Franca La Lima (ZFLL), located in the province of Cartago, Costa Rica, to support the expansion of the industrial park.
The operation includes the potential acquisition of land and the preparation of spaces for research and development, strengthening the country’s capacity to attract foreign direct investment in high-value-added sectors.
The financing also includes the option to build multi-tenant facilities, optimising costs, reducing installation times, and facilitating access to high-quality infrastructure for international companies. This model is especially attractive for sectors such as medical devices, advanced manufacturing, and specialised services, aligned with Costa Rica’s productive strategy.
The financing will help consolidate Cartago as a competitive industrial hub, promoting economic development outside the metropolitan core and generating formal employment in a region with high productive potential. In a country where the free trade zone regime accounts for nearly 64 percent of exports and employs more than 250,000 people, the expansion of ZFLL reinforces the role of this model as a driver of growth, innovation, and productive linkages. Since its opening in 2014, ZFLL has attracted more than $1.186 billion in investment and generated more than 9,500 direct jobs.
The financing consists of a revolving line of up to $5 million, with an initial 18month term, renewable. The funds will support agile execution of investments aligned with the needs of international companies seeking to establish operations in the country under high operational standards.
In addition to financing, IDB Invest will provide technical advisory services to strengthen the park’s environmental and social sustainability, as well as its corporate governance. This includes support to obtain international environmental certifications that ensure efficient energy use in industrial operations and foster continuous improvement.
The operation also incorporates actions to improve mobility and transportation conditions for workers, with special attention to the needs of women, promoting safer and more accessible work environments.
The post IDB Invest finances the development of Zona Franca La Lima in Costa Rica to boost investment appeared first on Caribbean News Global.