BANCO IMPROSA S.A.
Who is our client
Banco Improsa is a medium size bank in Costa Rica that focusses mainly on financing the SME segment. It is the 5th largest private bank in Costa Rica with a total asset size of USD 720mln. Its main customers are small and medium sized enterprises in the construction, commerce, services, trade, transport, housing and tourism sector.
Funding objective
With this transaction, FMO further strengthens the growth of Banco Improsa and its loan portfolio in the SME segment.
Why we fund this project
SMEs play a vital role in driving economic growth in the Latin American region as they provide jobs and contribute significantly to the GDP of the region. This facility will strengthen employment and Costa Rican economic activity.
Environmental and social rationale
The project has been categorised as Category B in accordance with FMO’s Sustainability Policy. The Project’s activities are deemed to have minimal or no adverse environmental and social risks and/or impacts. As part of the Project, Banco Improsa will be required to apply the EDFI Exclusion List and (Country) E&S laws and regulations.
More investments
| Date | Total FMO financing |
|---|---|
| 2/14/2020 | USD 20.00 MLN |
| 5/29/2019 | EUR 0.04 MLN |
- Region
- Latin America & The Caribbean
- Country
- Costa Rica
- Sector
- Financial Institutions
- Signing date
- 12/12/2018
- Total FMO financing
- USD 20.00 MLN
- Fund
- FMO
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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