Banco Davivienda Costa Rica
The purpose of this IIC operation is to provide Banco Davivienda Costa Rica with financing to support small and medium-sized enterprises (SMEs) in Costa Rica through medium- and long-term loans for their modernization and/or expansion, or through short-term working capital loans, pursuant to eligibility requirements to be established by the IIC.
Banco Davivienda Costa Rica was established in the early 1980s under the name of Banex. From its founding up to the present day, partnerships, mergers, and operations have helped consolidate the bank’s market position and standing.
Environmental and Labor Issues:
This is a category FI-3 project according to the IIC’s Environmental and Social Sustainability Policy because the subprojects in the financial intermediary’s current or future portfolio are considered low risk. Banco Davivienda Costa Rica has an Environmental and Social Management System (ESMS) in place, with an environment officer in charge of conducting environmental reviews of the institution’s lending operations to ensure they are in compliance with the ESMS. The subprojects financed with IIC funds will be subject to an environmental review to verify that they are not on the IIC’s list of excluded activities and that they comply with national environmental and occupational safety laws and standards. Banco Davivienda Costa Rica shall also submit annual environmental reports to the IIC detailing the use of its ESMS in evaluating these aspects of its transactions.