Project detail - BANCO PROMERICA DE COSTA RICA S.A.

BANCO PROMERICA DE COSTA RICA S.A.

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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, one of the largest financial groups in Central America and a strategic partner to FMO.

Funding objective

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.

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.

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Date Total FMO financing
11/28/2016 USD 5.00 MLN
Region
Latin America & The Caribbean
Country
Costa Rica
Sector
Financial Institutions
Signing date
8/10/2016
Total FMO financing
USD 15.00 MLN
Fund
FMO
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)
B