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ARIAS COSTA RICA CONTRIBUTED TO THE FIRST DISBURSEMENT FOR GREEN LOANS AND SUPPORT FOR SMEs

May, 2020

Arias Costa Rica advised the Dutch Entrepreneurial Development Bank (FMO) in structuring the guarantee for the first disbursement of the US$30 million credit for green loans and financing of small and medium-sized enterprises (SMEs) in the country, granted to Banco Promerica de Costa Rica.

This is a result of the loan signed in 2019 between Banco Promerica and FMO as part of the FI-LAC program (Financial Institutions, Latin America & the Caribbean) where Arias also served as a local lawyer.

This trust includes a loan portfolio from Banco Promerica to guarantee the operation, which will be financing loans to SMEs and to green projects, aligned with the FMO criteria, related to renewable energy and energy efficiency.

Diego Gallegos, who coordinates the firm's banking and finance area, led the transaction for Costa Rica.

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