San Jose [TCRN] – Costa Rica’s largest private bank, Banco BAC San José S.A., will receive a loan of as much as $40 million from the Inter-American Development Bank (IDB) to used to expand mortgage financing and lending to small and medium-sized enterprises (SMEs).

The IDB loan will have longer term financing that will allow the bank to offer mortgages to middle and lower middle-income families.

The loan is part of the Beyond Banking Program, seeks to promote sustainable environmental, social and corporate governance principles among Latin American lending institutions.

BAC is the largest private-sector bank in Costa Rica and is one of the most important regional financial institutions in Central America.

The Costa Rica News
San Jose Costa Rica