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Costa rica
PROPARCO has renewed its partnership with the bank Promerica by allocating it a credit line earmarked to finance SMEs in Costa Rica, which account for the bulk of the local economic base.
Client presentation

Banco Promerica is a universal bank set up in 1992, which offers financial services to companies and private clients. The bank is increasingly participating in the SME segment and offers innovative products tailored to the needs of SME clients. Banco Promerica is majority owned by the Central American group Promerica Financial Corporation.

Project description

Proparco’s credit line is earmarked to finance local small and medium-sized enterprises. This operation follows on from an initial loan allocated by PROPARCO in 2014, which was earmarked to finance the agriculture sector. In addition, Proparco’s Technical Assistance aims to help the bank increase and implement its range of products for SMEs. 

Project impact

This project will contribute to the development of SMEs in Costa Rica and will support employment and training for both the employees of Promerica and the employees of the funded SMEs. PROPARCO will be financing some 130 companies through this operation. The project will contribute to creating or maintaining a total of over 7,800 jobs in Costa Rica by 2022.

09/11/2017
Date of signature of the project
Costa Rica
Location
Financing tool
18 920 263 Euros
Amount of funding
USD 20m loan and 1 Technical Assistance projet for USD 50,000
Financing details
BANCO PROMERICA DE COSTA RICA, S.A.
Client
CES