INDUSTRY

closed

The Second Industrial Equipment Project for Costa Rica will assist in financing an import program for the development of agriculture and industry. The volume of Costa Rica's traditional exports, especially coffee, is unlikely to expand in the next few years. As a result, the growth of export income has slowed and the real national income has been unable to meet the needs of Costa Rica's increasing population. A program to accelerate the growth of domestic income must be implemented. Domestic industries provide a promising field for economic expansion. They will help to maintain or increase real per capita income, provide employment opportunities for the growing population, and produce goods which otherwise would be imported. The Second Industrial Equipment Project will provide credits for industrial projects such as the improvement of agricultural facilities, the construction of manufacturing facilities, and the procurement of equipment and machinery. These improvements will help to expand the industrial sector for the growth of Costa Rica's economy.