New ‘Green’ Loan Allows Ticos to Make Environmentally Friendly Upgrades

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    The Costa Rica News (TCRN) – The People’s Bank and Community Development are offering a new loan for converting homes and businesses to increase their energy efficiency (the purchase of solar panels, to replace incandescent lights with fluorescents, to transform traditional fuel vehicles to LPG gas, replace the toilet tank to smaller capacity units and acquire water saving accessories for showers and sinks, etc.).

    This alternative, as Roger Conejo, Director of Products and Services of People’s Bank, allows customers and businesses to have a financial plan that’s friendly to the environment.

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    The institution offers an interest rate of 15% per annum for a period of eight years (96 months).

    In addition, the amount available was formerly three million colones and now is increased to finance up to 13 million colones.

    The bank also offers a “Green Savings Account” which provides a stepped interest rate according to the balance. With this option, the People’s Bank allocates an amount equal to the balance of this portfolio to fund environmentally friendly projects.

    The Costa Rica News (TCRN)

    San Jose, Costa Rica

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