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)
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: 2016-06-13
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: Banco BAC San Jose S.A.
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): $ 5.00 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): $ 20.00 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: 2017-08-14
BANCO BAC SAN JOSE S.A.
FMO-46806

Project Description
FROM FMO: This Green Line loan project will enable financing of projects including i.e. installation of solar panels at households or businesses, construction of 'green' buildings (EDGE certified) and replacement of inefficient agricultural equipment. Banco BAC San Jose S.A. (BAC SJ) is the largest privately owned bank in Costa Rica and is part of the Central American BAC Credomatic Group, owned by the Colombian Grupo Aval conglomerate. BAC SJ is a long-standing client of FMO and considered as a strategic partner for innovation in the Central American region. This Green Line supports the development of green financial products in Costa Rica which contributes to FMO's strategic goal to halve its footprint by reducing GHG emissions.
Investment Description
The USD 5 million senior term facility is a Green Line which BAC SJ will use to on-lend to green projects in line with FMO's green lending criteria, focused on renewable energy and energy efficiency.
Contact Information
FMO The Netherlands +31 70 314 96 96 info@fmo.nl