Coopealianza was established in August 1971 in Pérez Zeledón and has since become one of the main savings and loan cooperatives in Costa Rica. It is has the largest number of members nationwide and is supervised by the Costa Rican financial market regulators.
Coopealianza is a service leader with fifty branches throughout the country and presence in all seven provinces. It is also one of the most important direct employers among the savings and loan cooperatives. Besides personal and housing loans, Coopealianza also provides financing for rural micro and small enterprises, which make up a significant part of its portfolio.
The goal of this IIC operation is to provide medium-term financing to Coopealianza so that, in turn, it can provide financing for business development to elegible projects and companies in the micro, small, and medium-sized segment throughout Costa Rica.
This is a category III project according to the IIC’s environmental and labor review procedure because it could produce certain effects that may be avoided or mitigated by following generally recognized performance standards, guidelines, or design criteria. To enable the Borrower to better understand the IIC’s requirements, Coopealianza shall be required to attend the IIC financial intermediary environmental training workshop. Each subproject will be subject to an environmental review and must comply with national environmental and labor laws, regulations, and standards as well as IIC environmental guidelines.