Costa Rica: $100 Million for Business Loans

CABEI granted a loan to Banco de Costa Rica, which will be used to finance operations by SMEs and business clients in the industrial, agricultural, and cooperative sectors.

Wednesday, February 20, 2019

The financing was made under the modality of disbursement of global line of credit, intended for working capital and boosting Costa Rican productive sectors, informed a source of the executive.

From the Presidency of Costa Rica statement:

February 19, 2019. The Central American Bank for Economic Integration (CABEI) and the Banco de Costa Rica (BCR) signed on Friday 15 February a transaction for 100 million dollars under the modality of disbursement of global credit line, intended for working capital and boosting productive sectors in Costa Rica.

These resources (more than ¢60,000 million) will be used by the BCR to finance operations of micro and SME's, business clients in the industrial, agricultural and cooperative sectors, in addition to a housing component.

Read full statement.

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The Inter-American Development Bank approved a loan to implement a financial inclusion program that will address business initiatives in several of the country's territories.

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Figures up to October 2017 show a 3% YoY growth, well below the 12% increase registered in the same month in 2016.

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Latin American Corporate Liquidity: Waiting for Springtime

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