Partnership with Desyfin for Leasing and Factoring Financing with SMEs in Costa Rica (IIC-12339-01)

Countries
  • Costa Rica
Where the impacts of the investment may be experienced.
Financial Institutions
  • IDB Invest
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Aug 31, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Financiera Desyfin, S.A
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 5.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IIC website

Updated in EWS Aug 17, 2018

Disclosed by Bank Aug 2, 2018


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Project Description

he objective of this transaction is to increase access to financing for Small and Medium Enterprises ("SMEs") in Costa Rica by supporting the growth of Financiera Desyfin, S.A.'s ("Desyfin") SME portfolio through factoring and leasing products. To do this, IDB Invest is proposing a Senior Unsecured Loan of up to US$5 million to Desyfin (the "Project"). The term of the IDB Invest Loan will be up to three years, including one year of grace.

Investment Description
  • IDB Invest
Private Actors
Contact Information

For inquiries about the Project, contact:
Client Contact Name: Manfred Lacayo
Title: CFO
Phone number: (506) 2224-8408
E-mail address: manfred@desyfin.fi.cr

For inquiries and comments to IIC, contact:
IIC’s Communications Group
E-mail: divulgacionpublica@iadb.org

ACCOUNTABILITY MECHANISM OF IIC

The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IIC)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IIC is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).