Banco Davivienda Costa Rica

For inquiries and comments to IIC, contact:
IIC’s Communications Group
E-mail: divulgacionpublica@iadb.org

For project inquiries, including environmental and social questions related to an IIC investment, please contact the client or the IIC using the contact information provided above. In addition, project affected communities have access to the IIC Independent Consultation and Investigation Mechanism.
Tel:+1 (202) 623-3952
Fax: +1 (202) 312-4057
Address: 1300 New York Ave. NW Washington, DC. USA. 20577
E-mail: mecanismo@iadb.org or MICI@iadb.org

Project Number: 
CR3910A-03
Expected Consideration Date by the Board: 
06/26/2015
Date Posted: 
05/26/2015
Company: 
Banco Davivienda Costa Rica
Sponsoring Entity: 
Not applicable
Financing Requested: 
Loan of up to US$15 million
Sector: 
Financial Services
Location: 
San José, Costa Rica
Country: 
Scope Objective: 

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 Review: 

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.