Banco Promerica de Costa Rica, S.A.
Status: Completed investmentWhy disclosure?
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In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Banco Promerica de Costa Rica S.A. (Promerica CR) is a privately owned universal bank in Costa Rica. Promerica CR is part of the Promerica Group, one of the largest financial groups in Central America and a strategic partner to FMO.
What is our funding objective?
The USD 25 million senior term facility consists of a SME tranche (USD 20 million) and a Green tranche (USD 5 million). The SME tranche will be used to support Promerica CR to grow its SME portfolio, while the Green tranche will be on-lend to green projects in line with FMO’s green lending criteria, aimed at renewable energy and energy efficiency.
Why do we fund this investment?
Providing financing to small and medium enterprises and green projects in Costa Rica will contribute to FMO’s strategic goal to create jobs and reduce GHG emissions.
More investments
| Date | Total FMO financing |
|---|---|
| 7/31/2024 | USD 10.00 MLN |
| 7/31/2024 | USD 5.00 MLN |
| 8/21/2023 | USD 5.00 MLN |
| 12/3/2023 | USD 15.00 MLN |
- Region
- Latin America & The Caribbean
- Country
- Costa Rica
- Sector
- Financial Institutions
- Effective date
- 8/10/2016
- End date
- 8/21/2023
- Total FMO financing
- USD 15.00 MLN
- Funding
- FMO NV
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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