iPhone 5 to arrive in Costa Rica on Dec. 14

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Apple announced Monday that the iPhone 5 will be available in Costa Rica starting Dec. 14.

The company posted on its website availability dates for the new line of smartphones in more than 50 countries.

The iPhone 5 hit the market on Sept. 12 and is currently distributed in 47 countries, including the U.S., Australia, Canada, France, Germany, Hong Kong, Japan and the U.K.

The device, made of glass and aluminum, follows the previous model’s (iPhone 4S) design, weighs 112 grams and is 20 percent thinner than the 4S (7.6 mm). Its 4-inch screen has better display technology than its predecessor with a resolution of 1136 x 640.

In the U.S., the iPhone 5 was released at a suggested price of $199 for the 16GB model, $299 for the 32GB model and $399 for the 64GB model.

Costa Rican cellphone operators (Claro, Movistar and ICE) have not disclosed any information on service plans, but the device already has the certification of approval by the Telecommunications Superintendency (SUTEL).

Posted by Costa Developers

Inter-American Development Bank gives Costa Rica dam project a boost

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Costa Rica is looking to become one of the first nations whose power supply is based entirely on clean and renewable sources of energy like this hydroelectric dam in Pirrís, in Los Santos region.

The Inter-American Development Bank (IDB), which approved $670 million in loans to finance the Reventazón Hydroelectric Dam in June, will now add another $200 million in guaranteed financing to help support Central America’s largest renewable energy project.

More than 90 percent of Costa Rica’s electricity is currently generated from renewable resources.

The Costa Rican Electricity Institute (ICE) and the International Finance Corporation, a private arm of the World Bank, will sponsor the project, which includes the construction of a dam 130 meters tall that will divert water from the Reventazón River near the Caribbean slope town of Siquirres.

When finished, the dam will generate an average of 1,407 gigawatt hours of electricity per year – approximately 10 percent of Costa Rica’s total capacity for electricity generation and enough to power more than half a million homes.

“The successful implementation of the environmental and social elements in this project will provide an important model for hydroelectric projects in Latin America.”

The $200 million approved last week was financed completely by the IDB. Future loans will continue to use this same structure to allow for wider lending options. The trustee will retain limited responsibilities and simultaneously will play the role of borrower, again providing for more flexibility in future lending opportunities.

The International Finance Corporation, together with the IDB and local banks including Banco Popular, Banco Nacional and Banco de Costa Rica, will lend directly to this newly created trust.

Posted By Costa Developers