The funds come from a credit line by the Inter-American Investment Corporation, a dependency of the Inter-American Development Bank.

“With this initiative, exporters will be able to apply for 5 year loans, paying an interest rate of Libor plus 250 basis points”, reported Nacion.com.

Source: Nacion.com

More on this topic

$50 Million in Credit for Food Company

January 2020

With a $50 million loan from the IDB, the CMI Alimentos business group will expand its operations in Guatemala, El Salvador and Honduras.

The loan was placed through IDB Invest, a member of the Inter-American Development Bank (IDB) Group, and the operation is intended to finance fixed investments that will help CMI Alimentos continue improving its productivity.

Costa Rica: Loans in Dollars Get More Expensive

May 2015

Arguing an attempt to control credit growth in dollars, the Central Bank will apply a reserve limit of 15% to banks that receive lines of foreign funding in that currency.

The banking sector has opposed the measure, asserting that it will result in an increase in the cost of credit in dollars, affecting the business sector, especially exporters and importers who normally resort to credit lines in dollars to finance their operations abroad.

Costa Rica: Collateral for Loans

April 2015

Starting from May companies will be able to use intellectual property rights, crops or inventories as collateral for bank loans.

The law which goes into effect on May 20 allows accounts receivable, movable property (except vehicles), stocks, crops, inventories of merchandise and commercial patents to be used as collateral for loans.

$175 Million for Salvadoran Export Sector

July 2010

The government presented its "National Export Strategy" in which it plans to invest $175 million during its five year mandate.

The funds come from the national budget in addition to a $40 million loan from the Inter-American Development Bank (IDB), commented the Secretariat to the Presidency.