European Union and Banco de Costa Rica partner to fund electric buses in Costa Rica

The European Union, the Banco de Costa Rica (BCR), the Ministry of Public Works and Transport (MOPT), and the German Agency for International Cooperation (GIZ) have formed a partnership to modernize public transit in Costa Rica’s Greater Metropolitan Area (GAM).

The initiative involves an €8 million contribution from the European Union to establish a trust fund. This financial mechanism is designed to facilitate the acquisition of at least 75 European-made electric buses and to fund the necessary infrastructure, such as the modernization of bus depots and the installation of high-capacity charging stations.

By utilizing a “turnkey” business model through special purpose vehicles, the project aims to lower the economic barriers for bus operators transitioning from conventional to electric fleets. The goal is to support national decarbonization targets without passing the full cost of investment onto commuters.