Costa Rica: Development Banking Loans $22 Million in January

In January, the Development Banking System (BDS), loaned 52% of the funds it has available, or $21.84 million (12.011 million colones).

Tuesday, February 23, 2010

These easy credits were awarded to 1.593 companies, mostly micro-companies (91%), but also small (8%) and medium (1%).

An article in Prensalibre.cr explains that Agriculture received most of the funds (52%), followed by commerce (27%), services (17%) and industry (4%).

The average loan is $20.000, and corresponds to 62% of the total requested by each company.

More on this topic

Costa Rica: $320 million Still Unused

May 2012

Changes to the law on development banking have suffered a delay of 5 months, which has prevented the use of $320 million.

Delays to the expected legislative changes to the Law of the System for Banking Development (SBD) now add up to 5 months.

The opposition blames the government for not having pushed a review of the reforms to a special commission.

Development Bank System off to partial start

November 2008

The Development Bank System (SBD) will start to function in December, but a great part of it is still incomplete and will take at least six months to complete.

The Government confirmed that the system will start with the Nacional, Popular and Credito Agricola de Cartago banks. The last of these three will administrate two of the main funds of the SBD.

El Salvador: Credit to MSMEs

February 2012

The start of 2012 will see the launch of the new Development Banking System, which has $200 million in credit to support micro, small and medium enterprises.

Bandesal has, to start off with, $200 million for small and medium enterprises."However, we are aiming later on to provide funding for large enterprises, preferably those that require large investments such as construction and agricultural industries, said the technical secretary of the Presidency, Alexander Segovia," in an article by from Daniel Gonzalez Choto a ElFinancierocr.com correspondent in Costa Rica.

Costa Rica: Development Bank to have fewer resources

April 2008

The Development Bank system will have access to fewer resources, because the allocations of resources from the Fund for Productive Restructuring, determined by the management committee of the National Production Board (CNP) is reducing its contribution by more than half.

In January of last year the Fund's budget provided about 22 million colons (about 42 million dollars), but yesterday Javier Flores, Minister of Agriculture, confirmed that it would provide just 10 billion colons this year.

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