Sunday 16 May 2021

US$90 Million for Banking Sector

CABEI granted a loan that will be assigned to the country's state banks, resources that will be used to support the productive sectors in the context of the national emergency.

QCOSTARICA – With the aim of strengthening the liquidity of Costa Rica’s state banks in the face of the national emergency caused by the covid-19 pandemic, the Central American Bank for Economic Integration (CABEI) authorized the disbursement of US$50 million for the Banco Nacional de Costa Rica (BNCR) and US$40 million for the Banco de Costa Rica (BCR), reported the international organization.

The CABEI (Banco Centroamericano de Integración Económica: BCIE in Spanish) statement said that “… the attention of the state banks was a priority and that they should provide assistance to the industrial, agricultural and service sectors that are being affected by the global emergency.”

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According to an interactive report prepared by CentralAmericaData, the impact of the Covid-19 crisis on the financial sector in Central America is expected to be felt mainly in services related to stock brokerage and investment advice, where a drop is expected.

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FACT CHECK:
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Q Costa Rica
Reports by QCR staff

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