Project detail - FINANCIERA DESYFIN S.A.

FINANCIERA DESYFIN S.A.

Back to map

Who is our client

Financiera Desyfin S.A. ("Desyfin") is a regulated non-banking financial institution in Costa Rica. Desyfin's core business is providing credit and other financial products (e.g. factoring and leasing) to the lower end of the SME segment. It currently has over 3,000 active borrowers (both individuals and SMEs), employs over 200 people (56% female) and manages 6 branches throughout Costa Rica

Funding objective

FMO's total loan of USD 25.5mln will be partly dedicated to financing SME clients and green projects, thereby contributing to decent work and economic growth activities and supporting climate action. It will also partly support the capital position of the financial institution. The total USD 25.5mln transaction refers to a committed tranche of USD 15mln, an un-committed tranche of USD 7.5mln (which may be activated) and a sub-debt loan of USD 3mln.

Why we fund this project

Desyfin plays an important role in providing access to finance to small and medium enterprises, a critical segment in supporting job creation. Furthermore, FMO brings additionality by providing medium-term financing to support the growth of a green portfolio and the subordinated funding to strengthen the Tier 2 Capital and fund organic growth.

Environmental and social rationale

Desyfin E&S is categorized as B given the nature and size of its loans. The company does not have exposure to activities on FMO's exclusion list or IFC-PS triggered transactions.

More investments

Date Total FMO financing
8/23/2021 USD 3.00 MLN
12/23/2015 USD 15.00 MLN
Website client
http://www.desyfin.fi.cr
Region
Latin America & The Caribbean
Country
Costa Rica
Sector
Financial Institutions
Signing date
8/23/2021
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