CABEI promotes access to credit to MSMEs and social housing in Costa Rica

San Jose, Costa Rica, 25 November 2014- The Central American Bank for Economic Integration (CABEI) agreed to further extend  the Global Line of credit for an amount of up to US $6.0 million to the Cooperativa de Ahorro y Crédito Alianza de Pérez Zeledón R.L (Coopealianza).

CABEI plans to finance operations that are framed within the different types of financial intermediation programs, with greater emphasis on the Support Program for Micro, Small and Medium-sized enterprises (MIPYMES, Spanish acronym) and the Intermediation Program for Social Housing.

CABEI Country Manager for Costa Rica Hazel Cepeda stated that with this initiative the Bank reaffirms its commitment to the region, and in the specific case of Costa Rica, the channeling of resources that encourage and promote the participation of the productive sectors in the development of the economies, and with the support of Coopealianza, to strengthen the presence in key sectors such as social housing and the mobilization of funds to SMEs.

As a result of this expansion, the global credit line will reach the sum of fifteen million dollars (US $ 15,000,000.00).

CABEI Country Manager for Costa Rica Hazel Cepeda also mentioned that this operation is a result of a solid relationship of more than 8 years between the Central American Bank for Economic Integration and Coopealianza R.L.

The initiative is part of CABEI’s efforts towards Social Development, with emphasis on the strategic objectives aimed at creating opportunities for income generation
    
With regard to the Focus Areas of CABEI’s Institutional strategy, this operation is primarily framed within the contributions to the financial intermediation and development finance, as well as human development and competitiveness, given the mobilization of resources to strengthen the coverage of services and basic needs of the country, as well as for the income generation through financing to SMMES.