The private bank Davivienda Costa Rica will receive US$115 million in financing to increase its portfolio of green financial products. The project seeks to contribute to reducing greenhouse gas emissions by supporting and financing the environmental and social agenda of the Costa Rican banking sector and offering customized green financial solutions.

IDB Invest will finance $30 million, while a group of private banks, including Banco Santander, Banco Aliado, Banco BHD, and Global Bank, will provide the remaining $85 million.

In addition to the financing, IDB Invest will support Davivienda Costa Rica with advisory services for:

• design of a tracking and segmentation system for the bank’s thematic portfolio, including green and social finance categories
• design of green financing lines in the segments of sustainable construction, green mobility, and renewable energies
• preparation of an environmental and social action plan.