EMGA SECURES US$15 MLN FINANCING FOR BANCO IMPROSA TO SUPPORT SMES IN COSTA RICA

KUALA LUMPUR, April 23 (Bernama) -- Emerging Markets Global Advisory LLP (EMGA), in partnership with Banco Improsa, announced it has secured a US$15 million line of credit from the Japan International Cooperation Agency (JICA). (US$1=RM4.77)

“In spite of a challenging global macroeconomic environment, we are pleased to once again facilitate Banco Improsa’s continued vision to supporting SMEs in Costa Rica and complete this financing solution,” said EMGA Managing Director and Head of Investment Banking, Sajeev Chakkalakal in a statement.

Concurrently, EMGA Managing Director, Jeremy Dobson added that Banco Improsa's strong management and healthy financial position were key factors in helping the EMGA Investment Banking team secure this funding, and this JICA facility will further strengthen Banco Improsa’s ability to grow its core SME lending book.

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Meanwhile, Banco Improsa General Manager, Felix Alpizar Lobo said the financing reaffirmed the company’s commitment to strengthening the SME segment in Costa Rica.

“Banco Improsa is proud to share JICA's objective of contributing to the economic and social growth of developing countries,” he added.

Banco Improsa is a commercial bank with more than 37 years of experience, whose relational business model and focus on niche markets specialises in providing financing solutions and services to small and medium-sized enterprises (SMEs), among others.

On the other hand, JICA is a governmental agency that provides most of the Official Development Assistance for the Government of Japan. It is chartered with assisting the economic and social growth of developing countries, and the promotion international cooperation.

With offices in London and New York, EMGA assists financial institutions and corporations seeking new debt or equity capital.

-- BERNAMA