BLP advised the International Finance Corporation (IFC), a member of the World Bank Group, on a USD 200 million loan to BAC Costa Rica, the country’s largest private bank, aimed at strengthening its credit programs for micro, small and medium-sized enterprises (MSMEs)—particularly those led by women—and expanding investments in sustainable projects. The financing package provides that at least 30% of the proceeds will be directed to women-led businesses and a minimum of 40% will support initiatives in e-mobility and sustainable construction. Through this transaction, IFC reinforces its commitment to supporting the growth of women-led MSMEs and promoting sustainable solutions in Costa Rica.
BLP led the legal due diligence process and advised IFC on all Costa Rican law aspects of the transaction, including regulatory, banking, and corporate matters, as well as reviewing and negotiating the financing documentation through closing.
The project was led by partners Julio Castellanos and Pablo Umaña, with the support of Senior Paralegal Paola Fernández.
BLP Team
- Julio Castellanos – Partner, Costa Rica – E-mail
- Pablo Umaña – Partner, Costa Rica – E-mail
- Paola Fernández – Senior Paralegal, Costa Rica – E-mail