Portfolio Partner Profile
Promerica Costa Rica is a local bank in Costa Rica and the second largest private bank financing primary agricultural production in the country, focusing on pineapple, banana, sugar, fruits and other crops. The bank focuses on supporting Small and Medium Enterprises and smaller corporates in undertaking their green transformation to move towards higher value-added export markets. As part of this support, the bank is financing investment needs for the migration of its clients towards certified production. The bank has identified opportunities in financing the adoption of best productive practices that yield positive ecological, social and financial returns for its clients; while it has developed a framework to capture and measure these positive impacts. Additionally, Promerica has aligned its lending strategy with the Sustainable Development Goals in an effort to further increase its social and environmental impact in Costa Rica.
Banco Promerica is known as one of the most advanced financial institutions in the region with regards to sustainability which has mobilized capital towards environmentally and socially responsible projects that, in addition of being an engine of job creation, underpin the efforts of the country of becoming a low-carbon and climate-resilient economy with a high value-added agribusiness sector.
Promerica Costa Rica is genuinely committed to sustainable banking as evidenced by an articulated strategy that involves (i) a catalogue of green products to conduct impact-oriented investments (i.e. for the reduction of carbon footprint), (ii) implementing the Sustainable Development Goals (SDG) in its operation and (iii) measuring the impact of its loan portfolio. The Bank tracks impact indicators from its clients related to water consumption, gender equality and clean energy, among others, and expects to measure more complex variables such as carbon emissions reduction in the medium term.