Costa Rica, FMO assessment of green lending potential in Costa Rica
FMO, the development bank of the Netherlands, offers green credit lines and provide support to FI clients in developing their own green credit products to foster Energy Efficiency and increase Renewable Energy generation.
Costa Rica has the highest electrification rate in Central America but also an above average of power consumption per capita compared to Latin America. The rapidly growing energy demand is one reason why the country is paying a lot of attention to green energy and Energy Efficiency measures options. President Arias set the goal of making Costa Rica a carbon neutral economy by 2021 through the promotion of renewable energy and energy efficiency strategies in 2006.
BAC San José is the largest private bank in Costa Rica and a partner in promoting EE projects through the Inter‐American Investment Corporation (IIC) GREENPYME program.
MACS support FMO in considering the launch of financial products to support “green technologies” in Costa Rica and provide an assessment of the loan portfolio of BAC San José to identify the possible potential in this respect.