Banco HSBC Costa Rica
The purpose of this IIC operation is to provide Banco HSBC Costa Rica with financing to support small and medium-size enterprises 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 HSBC 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 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, Banco HSBC Costa Rica 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.