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N osta Rica T


Costa Rica


A new term loan will support the internationa trade needs of Costa Rica’s SMEs, including those in the semi-formal sector


those in the semi-formal sector he OPE


he OPEC Fund has signed a term loan with Banco Improsa, Costa Rica for US$15 million. The finance will enable the bank to


und has signed a


needs of Costa Rica’s small- and medium- sized enterprise (SME) sector. Banco Impr


in Costa Rica and a subsidiary of Grupo Financiero Improsa, which has traditionally served the SME sector. The new loan facility will enable the bank to impr


allowing them to support the whole value chain of their international tr


Costa Rica for US$15 million. The finance will enable the bank to support the international trade small- and medium-


mprosa is a commercial bank based osa, which has traditionally


will enable the bank to improve SMEs’ access to funding in the Central American country, allowing them to support the whole value chain of their international trade needs. Nearly 40 percent of SMEs in Costa Rica are semi-formal and the bank will also support


30 this segment. this segment. OPEC Fund Director-Genera all


Dr Abdulhamid Alkhalifa said: “ his loanlkhalifa said: “This loan will ultimately help secure jobs, especially , and generate new ting trade flows.


will ultimately help secure jobs, especially in these uncerin these uncertain times, and generate new oppor


opportunities, while supporting tr


Working capital contributes to reducing gaps at a time when demand on term financing and liquidity is high. At the same time, our involvement highlights how the private sectorin can play an impor


and liquidity is high. A the same time can play an important role in supporting


the funding needs of SMEs. It will hopefully pave the way for others to make sustainable investments in Costa Rica.”


in The OPEC Fund has partnered with ed with


Costa Rica for development purposes since 1977 across its public sector window and its


1977 acr


Dr Abdulhamid Alkhalifa, OPEC Fund Director-General


will hopefully


A new term loan will support the internationall trade needs of C


ew opportunities in uncertain times private sector and tr


private sector and trade finance windows. Costa Rica has also received development grants from the OPEC Fund.


eceived development und.


“Our involvement [...] will hopefully pave the way for others to make sustainable investments in Costa Rica”


ew opportunities in uncertain times


PHOTO: Luis Alvarado Alvarado/Shutterstock.com


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