Additional resources to boost credit solutions and financial education in Costa Rica
With support from the European Union, the Government of Germany (through KfW) and CABEI, a cooperation agreement was signed with COOPESERVIDORES.
San José, October 25, 2017-. In order to promote access to financing for Micro, Small and Medium Enterprises (MSMEs), the Central American Bank for Economic Integration (CABEI), which is the executing entity of the Initiative for the Development of Business Ideas and Acceleration of Central American MIPYMEs (DINAMICA Initiative), signed a non-reimbursable technical cooperation agreement for up to US$60,000.00 with Cooperativa de Ahorro y Crédito de los Servidores Públicos R.L. (COOPESERVIDORES)
The funds will allow the implementation of a Project denominated, "Financial and Educational Instrument targeted at technology-based dynamic MSMEs." Project execution involves improvement of technological tools for financial advisors at the cooperative to integrally attend the needs of MSMEs with high growth potential.
While presiding over the signing ceremony, CABEI Country Manager for Costa Rica, Mr. Mauricio Chacón, stated that, "The strengthening of credit mechanisms and financial education for MSMEs through intermediary entities, such as COOPESERVIDORES, promotes the accelerated business scaling and consolidation of MSMEs."
The document was signed by CABEI Country Manager for Costa Rica, Mauricio Chacón, and the General Manager of COOPESERVIDORES, Oscar Hidalgo. The signing ceremony was also attended by the Economic and Commercial Section Officer of the European Embassy, Silvia Miranda, and the President of the COOPESERVIDORES Board of Directors, Fernando Faith.
The signing of the agreement was made in the framework of COOPESERVIDORES’s 60th Anniversary denominated, "Professorship in homage to former President Luis Alberto Monge Álvarez." The event was attended by recognized officials and directors of relevant public and private sector entities in the country, as well as representatives from MSMEs and relatives of the former president of Costa Rica, as guests of honor.
The cooperation will provide financial solutions pursuant to the reality of emerging markets, promoting economic development, inclusion and poverty reduction.
