Costa Rica: Reforms to SME Financing Mechanism

Reforms are planned to the "Sistema de Banca para Desarrollo" (SBD) "banking toll fee" arrangement with the introduction of a fixed payment.

Monday, August 16, 2010

In addition, the concept of differentiated regulation will be introduced and the role of Costa Rica's national learning institute (INA in Spanish) in carrying out business training will be clarified.

"The SBD began in 2008 with the creation of three funds: financing and liquidity, bonds and guarantees and business development services. Together these make up the National Development Trust (Finade in Spanish)," reports Elfinancierocr.com. "As of March 2010, this fund contained approximately $164 million while its investments were only $28 million".

More on this topic

Expectations Over Credit in El Salvador

May 2012

The Development Bank of El Salvador’s imminent start of operations may be the long awaited solution to the lack of credit for productive activities.

The difficulty in accessing financing has been a limiting factor for the proper functioning of the productive sectors in recent years, a view shared by, for example, Elena de Alfaro, president of the Foundation for Economic and Social Development (Fusades).

$ 45 Million for Regional SMEs

October 2010

The Overseas Private Investment Corporation (OPIC) approved funding to Lafise Bank in order to support small and medium enterprises (SMEs) in the region.

With better access to long-term credit, small-scale farmers, manufacturers and owners of retail businesses will be able to grow faster and in turn support their local economies.

Productive Projects Pending Credit

May 2012

The Development Bank of El Salvador has received about 700 investment prospects recently and is preparing to grant loans starting from this May.

"We have received more than 700 potential prospects, some of which some are already in advanced stages," said Oscar Lindo, chairman of the Development Bank of El Salvador (BANDESAL) to Laprensagrafica.com.

Costa Rican Government Seeks Support for Development Banking

April 2009

The bill would request the transfer of a mandatory 5% of state and private bank profits to the Development Bank System.

The contributions would be for five years and in addition to the requirement established by existing law for banks to use 5% of their profits to create a fund to grant loans for development.

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