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Latino Daily News

Thursday September 9, 2010

Costa Rican Banks Set to offer “Green Loans”

One of Costa Rica’s large banking networks, Banco Promerica de Costa Rica, is getting ready to develop a portfolio of environmentally sustainable loans known as “green loans” which will strengthen the eco-business in the country.  The green loans help increase investment and sustainable banking practices in the country, fostering environmental, social and economic benefits.

Banco Promerica is striving to expand sustainable environmental projects, a growing small business market in the country, that has limited resources to count on for its growth. Costa Rica has one of the most developed eco-tourism sector in the world and tops in Latin America with most of those businesses dominated by large operations such as Four Seasons and Hyatt.  The New Economics Foundation has ranked Costa Rica the “greenest” country in the world.

The country has two million annual visitors with eco-tourism earning approximately $2.2 billion.  Costa Rica is a much sought after destination providing a home to 5% of the world’s biodiversity and is the most visited nation in the Central American region.