CABEI and Davivienda sign credit to promote productive and housing sectors

San José, October 30, 2015. - The Central American Bank for Economic Integration (CABEI) signed a US$25 million global credit line with Banco Davivienda Costa Rica.

The agreement will allow CABEI to finance operations in the framework of the its financial intermediation program with a special focus on the Middle Class Housing Intermediation Program, providing it with resources for home purchase, home renovation, home improvements, working capital and procurement of productive goods.

CABEI Country Manager for Costa Rica Alexander Garita stated that, “This initiative reaffirms CABEI’s commitment to the region’s development by channeling resources that foster the participation of productive sectors in economic development. In addition, CABEI’s support will strengthen Davivienda's presence in vital sectors, such as the housing and productive sectors.

With regard to the alliance, the Executive President of Davivienda Costa Rica Arturo Giacomin stated that, "Davivienda is currently undergoing a strengthening process focused on offering a value proposition that benefits the productive sectors, while at the same time allowing individuals and families to fulfill their dream of purchasing their own home, thus contributing to the country’s development."

The initiative forms part of CABEI's efforts to promote social development with a focus on strategic objectives aimed at creating income generating opportunities.

In terms of the focus areas of CABEI’s Institutional Strategy, this operation falls in the framework of contributions to Competitiveness Services; Financial Intermediation and Development Finance; and Human Development and Social Infrastructure.