Costa Rica

Costa Rica's PPP framework is based around the 1998 concessions law, with separate rules introduced in 2016 for public-private collaboration contracts.^1,2 The National Concessions Council (CNC) provides specialized technical support for public-works concessions, including PPP-type projects, but its mandate does not automatically extend to other PPP contractual arrangements under the 2016 PPP regulations. The Ministry of Finance provides complementary fiscal assessment and methodological guidance through its broader public-debt management structure, following reorganization in 2026.³ A proposed Framework Law on Public-Private Partnerships has sought to unify institutional oversight, but after advancing through the legislature, the Constitutional Chamber identified constitutional issues with several provisions in September 2026, leaving the reform unresolved.⁴

Costa Rica has not recorded a PPP financial close since 2015, but several potential concessions are under development. In 2026 the CNC sought expressions of interest for the proposed San José-Cartago road concession,⁵ which remains in the preparatory stage, while a new concession to modernize and operate Puerto Caldera was awarded in 2026, although the contract has yet to be finalized.⁶ Other initiatives have fallen away, including the Tren Huetar proposal, which the CNC archived in 2026.⁷ This project-development activity therefore signals renewed momentum, but has yet to demonstrate Costa Rica's ability to bring a new generation of PPPs to financial close.

Political support for private participation in infrastructure has remained relatively consistent despite limited recent PPP activity. The Rodrigo Chaves administration (2022-26) continued to promote private investment in infrastructure, while PPPs and concessions featured in national development planning. Legislative consideration of the proposed Framework Law on Public-Private Partnerships provided further evidence of this support, receiving broad backing in its first legislative debate in May 2026.⁸ However, the subsequent constitutional objections mean that this political support has yet to produce a consolidated new framework.

Costa Rica has comprehensive project-selection processes, ranking third regionally, with established methodologies for identifying, prioritizing and economically assessing potential projects. Its institutional framework benefits from specialized concessions expertise and complementary fiscal and technical capacity, although dedicated PPP support does not extend consistently across contractual arrangements. Other notable strengths include protections against government-related risks and favorable access to capital, both ranking third in the region. These upstream capabilities provide a foundation for developing projects, even though PPP activity remains limited.

A decade without PPPs reaching financial close weighs heavily on Costa Rica’s index performance, with PPP-specific financing remaining limited despite favorable broader access to capital. Performance evaluation and impact is the country's weakest category, scoring 17.9, reflecting limited market maturity alongside gaps in ex-post evaluation and systematic infrastructure monitoring. Transparency is also uneven, with no consolidated PPP registry or regularly updated pipeline and gaps in contract disclosure and ongoing project reporting.

Costa Rica has continued to strengthen the technical foundations for PPP development. Joint guidance issued by the Ministry of National Planning and Economic Policy and the Ministry of Finance in 2024 further formalized project-selection processes, alongside more detailed methodologies for assessing fiscal commitments and risks. A 2024-25 capacity-building program also provided PPP-specific training to more than 50 officials, including training toward professional certification. Climate considerations are now better integrated into project selection, although gaps remain in resilience and social criteria.