In 2021, Banco Promerica, the fourth largest private financial institution in Costa Rica, completed the first issuance of a sustainable bond by a private bank in Central America in alliance with IDB Invest. These financial resources, plus IDB Invest’s technical advice, allowed the Bank, over the following years, to develop thematic impact by financing sustainable activities in multiple sectors, for example, the financing of small and medium-sized enterprises (SMEs), SMEs owned and/or led by women, investments that increase productive resilience or reduce greenhouse gas emissions through the financing of renewable energy, sustainable construction and sustainable agriculture, among others.

The financial institution has experienced a 125% growth in green loans, compared to its baseline prior to the issuance of the sustainable bond program. The publication describes representative cases of companies that received green loans from Banco Promerica to finance their projects, such as the company specialized in renewable energy Avolta Energy, the cheese-producing SME led by a woman Turrialba Gourmet (Le Chaudron), and the pineapple producing farm Upala Agrícola.