FMO has provided a USD 45 million loan to Banco Improsa in Costa Rica to expand funding for women-led SMEs, highlighting its commitment to financial inclusion and gender equity.

Target Information

FMO is partnering with Banco Improsa, a prominent private bank in Costa Rica that has been an ally since 2002. Ranking as the seventh-largest private bank in the country, Banco Improsa manages assets amounting to USD 593 million as of December 2024. The bank focuses on serving small and medium-sized enterprises (SMEs) primarily in the service, commerce, and construction sectors. To support its expansion, FMO is providing a senior unsecured loan of USD 45 million, with a specific emphasis on financing women-owned or women-led SMEs, which will constitute 60% of the total loan amount.

Industry Overview in Costa Rica

Costa Rica's economy is heavily bolstered by its SMEs, which play a crucial role in job creation and economic growth. These enterprises are responsible for a significant portion of the national GDP, and their contribution to innovation and diversity in the marketplace cannot be overstated. The private banking sector, including institutions like Banco Improsa, has demonstrated resilience and adaptability, enabling it to cater to the specific needs of SMEs.

Despite facing challenges such as competition from larger banks and economic fluctuations, the financial services industry in Costa Rica continues to evolve. The market is increasingly recognizing the need