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Development bank is bulwark of small business in Costa Rica

Tuesday, October 23, 2018

Of the total lending of Costa Rica's development bank system one third goes to small businesses in an effort to improve the inclusion of people who traditionally have had no access to credits from commercial banks.

Lending by the development banks grew fourfold in only three years thanks to a 2014 law that permits lending to small companies.

As a result of the spectacular growth, the total portfolio of credits to small business rose in August of this year to a total of some $770 million.