• Costa Rica Coffee Guide

Banco Nacional Starts Lending State Money

January 23, 2009

Just two weeks after the government granted three state banks $117.5 million to fortify their liquidity, at least one has already begun loaning.

In December, the Legislative Assembly ratified the assistance package pushed by President Oscar Arias and the Finance Ministry.

On Tuesday, Violeta Fernández, Banco Nacional spokeswoman, said the institution, which received $50 million in the aid package, would be directing ¢917 billion (about $1.7 billion) in credit this year.

During the first four days of January, Banco Nacional was able to place more than ¢3 billion (about $5.5 million) into various sectors. About ¢1 billion ($1.8 million) was loaned to small and medium-sized companies, ¢73 million ($133,000) went toward mortgages, about ¢2 billion ($3.6 million) was loaned to the business sector, and about ¢29 million ($53,000) was sent to the rural sector.

Regarding a possible reinforcing of the variability of liquidity to its customers, Fernández said the bank has its credit lines open for the public under normal conditions.

Fernández said that during 2008, Banco Nacional did not experience any problems concerning liquidity although it did take in the advice from monetary authorities concerning some credit restrictions.

The other banks did not return phone calls to The Tico Times by press time.

–Vanessa I. Garnica

 

You may be interested

News briefs: Costa Rica news highlights to start your Wednesday
Costa Rica
2140 views
Costa Rica
2140 views

News briefs: Costa Rica news highlights to start your Wednesday

Alejandro Zúñiga - November 25, 2020

Happy Wednesday from The Tico Times! Here's the news you should know as a new day starts in Costa Rica.…

Decarbonization will bring significant economic benefits to Costa Rica, study says
Costa Rica
1037 views
Costa Rica
1037 views

Decarbonization will bring significant economic benefits to Costa Rica, study says

AFP and The Tico Times - November 24, 2020

Costa Rica's decarbonization plan, which seeks to transform the economy through low-emission transport and production systems, will provide the country…

Costa Rica coronavirus updates for Tuesday, November 24
Costa Rica
6235 views
Costa Rica
6235 views

Costa Rica coronavirus updates for Tuesday, November 24

Alejandro Zúñiga - November 24, 2020

Costa Rica suffered 21 new coronavirus-related deaths over the past day for a total of 1,662, according to official data…