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: 2016-08-10
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 Promerica de Costa Rica 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): $ 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): $ 25.00 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: 2017-07-26
BANCO PROMERICA DE COSTA RICA S.A.
FMO-48294

Project Description
From FMO: This project will support Promerica CR to grow its SME portfolio, and will enable funding to green projects in line with FMO's green lending criteria, aimed at renewable energy and energy efficiency. WHO IS OUR CLIENT: Banco Promerica de Costa Rica S.A. (Promerica CR) is a privately owned universal bank in Costa Rica. Promerica CR is part of the Promerica Group. WHY WE FUND THIS PROJECT: Providing financing to small and medium enterprises and green projects in Costa Rica will contribute to FMO's strategic goal to create jobs and reduce GHG emissions.
Investment Description
The USD 25 million senior term facility consists of a SME tranche (USD 20 million) and a Green tranche (USD 5 million). The SME tranche will be used to support Promerica CR to grow its SME portfolio, while the Green tranche will be on-lend to green projects in line with FMO's green lending criteria, aimed at renewable energy and energy efficiency.
Contact Information
FMO The Netherlands +31 70 314 96 96 info@fmo.nl Anna van Saksenlaan 71 2593 HW, The Hague The Netherlands