Bancredito teams up with BBVA for micro credit in Costa Rica

Bancredito signed a deal with the BBVA Foundation to offer microcredit in Costa Rica

Wednesday, October 22, 2008


©image: Bancrédito Costa Rica

The agreement will allow Bancredit to take advantage of the BBVA Foundation's experience in the development and implemenation of financial products and services for small companies.

The Microfinance fundation, BBVA, is an entity created by the BBVA Group in accordance with its strategy of corperate responsibility.

The pact was signed by Guillermo Quesada, general manager of Bancredito and Manuel Mendez del Rio, president of the BBVA Foundation.

More on this topic

Boost for Microfinancers in Panama

November 2011

The BBVA Foundation and AMPYME have agree to the first private-public partnership for microfinancers in Panama.

The Microfinance Foundation of the Spanish bank BBVA has teamed up with the Authority for Micro, Small and Medium Enterprises in Panama to promote the use of financial products from these companies.

IDB, BBVA Panama sign $15 million to boost lending for small business

March 2010

BBVAP and IDB signed documents for a $15 million loan to provide BBVAP with long-term funding to support its lending to small and medium-sized enterprises.

The IDB loan will allow BBVAP to significantly expand its lending to SMEs, a strategic sector for economic growth and job creation in Panama.

New Bancrédito Agencies in Costa Rica

July 2009

Aiming to offer more services to SMEs, "Banco de Crédito Agrícola de Cartago" will open 4 new agencies in rural areas.

On July 29th, they will open an agency in Guápiles, Pococí, on August 5th in Pérez Zeledón, on August 12th in Liberia, Guanacaste, and finally, an agency will open in Ciudad Quesada in November.

Costa Rica to Invest $24 Million in Sewer Network

July 2010

The province of Cartago will issue bonds to finance the project.

The bank Bancrédito will be responsible for the sale of the bonds. The issue will take place in three stages: the first for $8.6 million, the second for $9 million and the last for $6.4 million.

“The minimum investment required to participate in the project is ¢1 million ($1,900), the term is 25 years and interest will be paid quarterly calculated using the base lending rate plus a number of percentage points that is yet to be defined,” writes La Prensa Libre online.

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