Costa Rica’s government signed a loan of 200 million awarded by the International Bank for Reconstruction and Development (IBRD) for the state system of higher education.
The loan “is very well designed, conceptualized and aligned with the key objectives in terms of coverage, with more determination towards the knowledge society and innovation,” said Costa Rican President Laura Chinchilla in a speech.
The Education Minister Leonardo Garnier, told that the money will be used to modernize the higher education system, expanding the capacity of students in different parts of the country and graduate scholarships for teachers and researchers.
It also aims to expand university infrastructure, promote research, innovation, scientific and technological development, and institutional management update and academic programs.
Costa Rica has a state system of higher education comprising the University of Costa Rica, the National University, the Technological Institute of Costa Rica, State Open University and the National Technical University.