China Development Bank provides $50 million loan to Banco Nacional de Costa Rica for unspecified purposes
Commitment amount
$ 55841850.11936994
Adjusted commitment amount
$ 55841850.12
Constant 2021 USD
Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Costa Rica
Sector
Banking and financial services (Code: 240)
Flow type
Loan
Level of public liability
Other public sector debt
Infrastructure
No
Category
Project lifecycle
Description
In July 2020, China Development Bank (CDB) and Banco Nacional de Costa Rica (BNCR) signed a $50 million loan agreement. The specific purposes of the loan are unknown. The borrowing terms of the loan are also unknown.
Additional details
1. Information is available on page 33 of the Ministry of Commerce's Costa Rica investment guide for 2021. 2. Banco Nacional de Costa Rica or BNCR is a state-owned bank. It is the largest commercial bank in Costa Rica and the second largest in Central America by assets. It has a 49% stake in Banco de Costa Rica International Limited (BICSA), incorporated with the Republic of Panama entity, and 100% of the shares of BN-Securities (Stock Exchange Market), BN-Vital (Operator owner pension fund), BN-SAFI (Mutual Funds) and BN insurance broker. in January 2013, the Fitch Ratings classified Banco Nacional de Costa Rica as an 'AA + (cri)' class bank.
Number of official sources
1
Number of total sources
1
Details
Cofinanced
No
Direct receiving agencies [Type]
Banco Nacional de Costa Rica (BNCR) [State-owned Bank]