San José, February 19, 2019.- The Central American Bank for Economic Integration (CABEI) and Banco de Costa Rica (BCR) signed a transaction of US$100 million under the modality of global credit line. The resources will be destined to working capital and boosting Costa Rican productive sectors; this is the largest disbursement that the Bank has granted in the Costa Rican financial system.

These resources will be used by BCR to finance operations of business clients in the industrial, agricultural and cooperative sectors. The beneficiaries of this transaction are distributed throughout the national territory and represent a workforce of more than 1,700 direct jobs, of which more than 30% correspond to women.

Regarding this support, BRC General Manager, Mr. Douglas Soto Leitón, stated that, "We are pleased to make this transaction with CABEI; it will allow us to contribute to the economic reactivation of Costa Rica through the financing of industrial, agricultural and cooperative sector clients. Since our inception, 141 years ago, the Bank has been linked to the development of the country and this year will not be the exception."

CABEI has been present in the Costa Rican financial sector for more than 20 years, supporting State Banks, Private Banks, Mutual Banks and Cooperatives. From 2012 to 2018, disbursements made to financial institutions amounted to US$1.92 billion, an average of US$274.5 million per year.

Through support to financial institutions in Costa Rica, CABEI has impacted on companies representing 176,566 workers, an annual average of 25,200 people. Of the total of workers whose companies have been benefited, 68% correspond to men and 34% to women; likewise, 82% of the supported jobs are in the urban area and 18% in rural areas.

In this regard, CABEI Costa Rica Country Manager, Mauricio Chacón, commented the following, "The resources that the Bank makes available to the local and regional financial system undoubtedly come to support the efforts aimed at promoting the economic reactivation and represent the confidence of CABEI in the Costa Rican financial institutions, which is materialized through the granting of resources to support the different sectors of the national economy."

In terms of beneficiaries from 2012 to date, the final beneficiaries of CABEI loans made through financial intermediaries total 3,300 people, of which only in 2018, more than 400 were impacted, doubling the quantity benefited with respect to the previous year.
The MSME sector has generated the most beneficiaries with 1896 (59%), followed by the housing sector with 1075 (34%) and the productive sectors with 218 (7%). 78% of beneficiaries are in urban areas and 22% in rural areas, with 24% women, 41% men and 35% companies.

BCR is a Costa Rican state bank and the second largest in the financial system by size of portfolio and public collections; for more than 20 years it has been a strategic ally of CABEI in channeling resources to large, medium and small businesses, as well as to the institutional sector.