Banco Improsa, in Costa Rica, is particularly active in corporate financing. Its increased financing capacity will benefit agricultural SMEs and will help them develop and modernize their sector.
Banco Improsa was set up in 1986 and is a medium-sized bank mainly active in corporate financing. Its activity focuses on SMEs, which account for some 60% of its portfolio. It is the only bank in Costa Rica to provide non-financial services to its clients. Banco Improsa is the main entity of the conglomerate Grupo Financiero Improsa (GFI), which is majority-owned by the Costa Rican Ortuño family.
Proparco’s credit line will be earmarked to finance agricultural SMEs. It will allow Banco Improsa to meet increasing needs for financing in the agricultural sector in Costa Rica. It is Proparco’s second operation with Banco Improsa.
This operation will contribute to the development and modernization of the agricultural sector in Costa Rica, which suffers from insufficient access to financing. More generally, it will contribute to employment in the country: Proparco’s credit line is expected to finance some 80 agricultural enterprises, i.e. a total of over 19,000 indirect jobs will be created or maintained in the agricultural sector.