Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Costa Rica
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • Netherlands Development Finance Company (FMO)
Status: Approved
Bank Risk Rating: B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2015-12-23
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: Desfyfin
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Finance
Investment Type(s): Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 15.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD): $ 15.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.

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Primary Source

Original disclosure @ FMO website
Updated in EWS: 2017-08-15
FINANCIERA DESYFIN S.A.
FMO-45039

Project Description
FROM FMO: WHO IS OUR CLIENT Desyfin is a non-bank financial institution (NBFI) that started operations in 1991. Desyfin's core business is providing credit and other financial products exclusively to the SME segment in Costa Rica. As a long-time market leader in factoring, Desyfin has gradually grown into a serious player in the Costa Rican financial sector. Desyfin is in the process of becoming a bank and is expected to obtain a banking license early 2016. The institution has 7 branches in major cities in Costa Rica and 180 employees. FUNDING OBJECTIVE The transaction allows Desyfin to grow its SME portfolio. WHY WE FUND THIS PROJECT Supporting SMEs through Desyfin with scarce long term funding, contributes to economic growth and employment in Costa Rica.
Investment Description
The FMO is providing USD 15 million in financing to Desyfin.
Contact Information
FMO The Netherlands +31 70 314 96 96 info@fmo.nl