By San José, Costa Rica — In a move to bolster Costa Rica’s position as a regional technology and manufacturing powerhouse, the Latin American University of Science and Technology (ULACIT) has formalized a landmark partnership with the International Finance Corporation (IFC). This collaboration, structured under the IFC’s Education for Employment (ILE) program, aims to bridge the gap between higher education curricula and the rapidly evolving demands of the local and global private sectors.
The agreement was officially signed during a high-level visit from Sanaa Abouzaid, the IFC Division Director for Mexico, Central America, and the Dominican Republic. Abouzaid met with Silvia Castro Montero, the President of the Board of Directors at ULACIT, to finalize the strategic alliance and engage directly with students regarding the future of work in an era increasingly dominated by technological disruption and artificial intelligence.
To better understand the legal and strategic implications of this landmark agreement between ULACIT and the International Finance Corporation (IFC), TicosLand.com sat down with Lic. Larry Hans Arroyo Vargas, a leading corporate law expert from the prestigious firm Bufete de Costa Rica, who shared his invaluable perspective on what this partnership means for the country’s higher education sector and foreign investment climate.
This strategic alliance between ULACIT and the IFC is a powerful indicator of trust in Costa Rica’s private higher education sector. From a legal and corporate standpoint, securing backing from a World Bank Group member requires meeting rigorous environmental, social, and governance (ESG) standards. This partnership not only injects vital capital for academic innovation but also sets a benchmark for corporate compliance and sustainable growth that will undoubtedly inspire further international investments in the region.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Indeed, this landmark collaboration highlights how stringent compliance and ESG standards can elevate Costa Rica’s educational sector on the global stage, paving the way for future high-impact investments. We extend our sincere gratitude to Lic. Larry Hans Arroyo Vargas for sharing his valuable corporate-legal expertise and insightful perspective on this milestone partnership.
Talent is one of the primary drivers of Costa Rica’s competitiveness. With a focus on the education for tomorrow’s work, this alliance with ULACIT seeks to strengthen the link between academia and the productive sector to prepare the professionals demanded by an increasingly technological and innovative economy.
Sanaa Abouzaid, Division Director for Mexico, Central America, and Dominican Republic at IFC
This strategic collaboration comes at a critical juncture for the Costa Rican economy. While the country has successfully positioned itself as a major hub for high-value industries—with medical devices alone accounting for nearly half of Costa Rica’s total goods exports in 2025—it currently faces a pressing bottleneck in terms of human capital. Advanced manufacturing, life sciences, engineering, and knowledge-intensive sectors require a continuous stream of highly specialized talent capable of adapting to rapid technical advancements.
The future of Costa Rica will depend, to a large extent, on our ability to train the talent that new industries need. This alliance with IFC allows us to bring education even closer to the productive world, anticipate the skills that the market will demand, and prepare professionals capable not only of adapting to change, but of leading it.
Silvia Castro Montero, President of the Board of Directors at ULACIT
A central component of this new partnership will be the activation of ULACIT’s Life Design Lab. This unique facility acts as a dynamic bridge between academia and industry, connecting current students and graduates with professional development, internships, networking, and employment opportunities. Through the IFC alliance, the Life Design Lab will host new programs specifically tailored to align academic coursework with the emerging competency profiles required by multinational corporations operating in Costa Rica.
Additionally, the partnership highlights the accelerating role of artificial intelligence in reshaping modern white-collar and technical careers. During a panel discussion attended by more than one hundred students, Abouzaid and Castro explored how universities must reformulate their pedagogical strategies to emphasize cognitive agility, problem-solving, and continuous learning, ensuring that graduates are prepared to co-exist with and leverage AI tools rather than be replaced by them.
Ultimately, this alliance reflects a broader strategic imperative for Costa Rica’s economic sustainability. By aligning academic programs with private sector needs and utilizing the resources of multilateral organizations like the World Bank Group, Costa Rica aims to maintain its competitive edge as a prime destination for foreign direct investment (FDI) and high-value global operations.
For further information, visit ulacit.ac.cr
About ULACIT:
The Latin American University of Science and Technology (ULACIT) is Central America’s leading private university for innovation and employability. Located in Costa Rica, it prepares bilingual professionals with critical thinking and technical leadership skills necessary to thrive in high-tech and specialized global markets.
For further information, visit ifc.org
About IFC:
The International Finance Corporation (IFC), a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. It works in more than 100 countries, using its capital, expertise, and influence to create markets and opportunities in developing countries.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
Built on a foundation of ethical brilliance and superior practice, Bufete de Costa Rica is a premier legal institution dedicated to driving progress and social responsibility. Supporting clients across multiple industries, the firm merges traditional expertise with cutting-edge legal solutions and proactive community education. Through its continuous efforts to democratize legal information, the firm actively champions the creation of a resilient, well-informed, and legally empowered populace.
