An announcement has been made of the creation of a trust for the refinancing of debts of SMEs producing pineapples in the Caribbean.
The Ministry of Agriculture and Livestock (MAG) will create a trust for $14 million intended to financially support some 376 pineapple growers. These resources represent an alternative to the crisis faced by some micro, small and medium producers of fruit.
The National Bank has $14 million from the System for Development Banking for small industrialists who have a capacity to pay, good credit and a clear plan of investment.
A statement from the Chamber of Industries of Costa Rica (ICRC) reads:
- Small Industries will have 7 billion colones for funding to improve productivity
- System for Development Banking will provide financial resources for the program.
Thomson Reuters, the world leader in intelligent information for businesses and professionals, has announced the opening of its new site in San Jose, Costa Rica.
A press release from the Ministry of Foreign Trade reads:
Thomson Reuters, the world leader in intelligent information for businesses and professionals, announced the opening of its new site in San Jose, Costa Rica.
Tourism businesses in the province of Guanacaste have requested more action from the country's government.
The requests from the Guanacastean Tourism Association (Caturga in Spanish) include greater international promotion and the creation of a seasonal financial support plan for companies.
As of August 2010, tourist numbers were up on 2008 and 2009 but the visitor profile is different with lower average spending, according to Prensalibre.cr.
Some 40 companies in the north of the country have requested government financial assistance as a result of the drop in tourism.
The request includes, among other suggestions, a financial plan and a program to provide technical assistance.
"The third suggestion is to create a marketing plan for the sector. Finally the group proposes that the agency responsible for the development of Costa Rica's northern Special Economic Zone (ZEE) actively and continously participate in the development of programs and action plans," writes Leticia Vindas for Elfinancierocr.com.
The Central American Bank for Economic Integration (CABEI) has developed a program to assist small coffee and cacao growers.
Called CAMBio (Central American Markets for Biodiversity), the project is expected to assist over 2.000 growers of the region.
“So far, CAMBio has lent $1.9 million to 2.310 small coffee and organic cacao growers in El Salvador, Nicaragua, Costa Rica and Honduras, benefiting some 11.550 people”, reported newspaper La Tribuna.
The European Union will assist Banana growers from Africa, the Caribbean and the Pacific with $259 million.
These resources are intended to make the sector more competitive.
Such initiative is in response to an agreement struck in December 2009 between the EU and other banana exporters, mostly Latin Americans, which sought to reduce the preferential treatment given to ACP countries.
The IMF will open in May 2009 in Guatemala City, its new Central America, Panama, and the Dominican Republic Technical Assistance Center (CAPTAC-DR).
“CAPTAC-DR is an important component of the IMF’s far-reaching reforms that will enable the Fund to respond more effectively to the emerging challenges of the global economy,” said Murilo Portugal, Deputy Managing Director of the IMF.
The IMF will open in May 2009 in Guatemala City, its new Central America, Panama, and the Dominican Republic Technical Assistance Center (CAPTAC-DR).
“CAPTAC-DR is an important component of the IMF’s far-reaching reforms that will enable the Fund to respond more effectively to the emerging challenges of the global economy,” said Murilo Portugal, Deputy Managing Director of the IMF.
During a meeting of Governors, IDB President Luis Alberto Moreno announced that the entity will increase its support to countries in the region.
Proceso Digital published on its website: "’At this juncture, we have to lend more and that is our obligation and why we are here,' said the head of the IDB in his opening speech.
Moreno said the IDB is ready to meet this 'obligation' to raise capital to the region but he did not specify the amount.
At the IDB meeting which is being held in Managua, the countries will request to operate with a higher fiscal deficit in their public finances.
Prensa Libre published on its website: "The Nicaraguan Minister of Finance and Public Credit, Alberto Guevara, said that a regional joint position on different subjects will be accorded for presentation at the annual meeting of that organism’s Board of Governors.
Program will focus on northeastern Brazil, Mexico and Central America.
The Inter-American Development Bank will support the establishment of a $150 million facility to provide short-term trade financing and medium-term investment loans to sugar and bioenergy companies and exporters in Brazil, Mexico and Central America.
The IDB’s Board of Executive Directors on Wednesday approved a senior loan of up to $75 million for the facility.
Program will focus on northeastern Brazil, Mexico and Central America.
The Inter-American Development Bank will support the establishment of a $150 million facility to provide short-term trade financing and medium-term investment loans to sugar and bioenergy companies and exporters in Brazil, Mexico and Central America.
The IDB’s Board of Executive Directors on Wednesday approved a senior loan of up to $75 million for the facility.
The monetary authority may give special credit, repurchase titles and expand the number of entities that can participate in the Interbank Money Market (MID).
The measure is in effect since yesterday and includes three components, explained Central Bank manager, Roy Gonzalez.
The first component of the agreement is a Regulation on special operations to deal with extraordinary need for liquidity.
Small-business suppliers of Costa Rica's Café Britt travel, souvenir and coffee retailer are to be offered US$1 million in loans from the Central American Bank for Economic Integration (BCIE).
The loans are to be offered under an agreement between Café Britt and the BCIE. Café Britt will back the loans.