Costa Rica News – Scotiabank will no longer sponsor InBio’s project to plant more trees in La Sabana Metropolitan Park.
The reason is that INBio did not pay for invoices of over $44,000 due to four subcontractors.
The bank deposited funds for this purpose and other expenses all year long. The bank has decided to stop paying INBio and take over the disbursement of the receipts yet to cancel.
The project is intended to plant trees over the 64 hectares of the park. It started in 2008 and had a goal of planting 5,000 native trees in nine years. By late last year, 50% of that goal had been met.
Species planted were native to Costa Rica, unlike the Eucalyptus trees the park is known for.
While INBio’s work has been terminated, Scotiabank and Icoder will continue the work for the remaining three years.
INBio’s expertise made an invaluable contribution and it is sad to see that they will not be able to continue in the work.
