CABEI approves Global Credit Line increase to Banco Cathay S.A. in Costa Rica
The funds, amounting to a total of US$14.5 million, will be used specifically to support micro, small and medium enterprises.
San José, October 4, 2013.- The Central American Bank for Economic Integration (CABEI) approved a US$4.0 million increase in the global credit line to Banco Cathay S.A. in Costa Rica, which will allow the efficient channeling of resources to support micro, small and medium enterprises (MSMEs), as well as the development of the country's productive sectors.
With the approved increase, Banco Cathay S.A.'s global credit line with CABEI reaches a total of US$14.5 million in available resources, which will contribute to job creation.
CABEI Executive President Dr. Nick Rischbieth stated that this expansion is a demonstration of the excellent relationship the Bank has with its strategic partner Banco Cathay S.A., which has allowed CABEI to successfully channel its resources for over 10 years.
CABEI Country Manager for Costa Rica, Hazel Cepeda, said that Banco Cathay's support has strengthened vital sectors for the mobilization of the Costa Rican economy.
