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Central American Bank opened $100 million credit line for Bank of Costa Rica |
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 By the A.M. Costa Rica staff
The Bank of Costa Rica obtained a credit line of $ 100 million from the Central American Bank for Economic Integration. The loan is for working capital and secondary loans to the national productive sector and the real estate sector. In a statement, the Presidential House said that this line of credit is the highest in history made to a bank by The Central American Bank for Economic Integration. The Central American Bank for Economic Integration and the Bank of Costa Rica signed the multi-million dollar contract under the modality of disbursement of the global credit line, destined for working capital and promotion of productive Costa Rican sectors. This capital will be used by the Bank of Costa Rica to finance loans to companies, the agricultural sector, cooperatives and real estate. Ottón Solís, representative director of Costa Rica before the international bank said that, "this is a sign of the confidence of the Central American Bank for Economic Integration in the macroeconomic stability of the country and in its policies of economic reactivation." Mr. Solís said that this line of credit aids the financing of a series of projects in fields such as infrastructure, clean energy, agriculture, sustainable transport, culture, education, drinking water and sanitation, all of which contribute to the integral development of the country. According to the government, for more than 20 years the Bank of Costa Rica has been a strategic ally of the Central American Bank for Economic Integration in channeling resources to large, medium and small companies as well as the institutional sector. |
 Central American Bank for Economic Integration courtesy photo This line of credit is the highest in history made to a bank by The Central American Bank for Economic Integration. According to the government the accumulated disbursements made by the Central American Bank for Economic Integration is almost two billion dollars. The agreement period of this credit line is between 12 and 24 months. The guarantee of this agreement was the balance of the Banco de Costa Rica. ---- Should the government continue to acquire debts with international banks? We would like to know your thoughts on this story. Send your comments to: news@amcostarica.com *Link to reach the place on map. |
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