BLP advised IDB Invest on all matters related to closing a $70 million unsecured subordinated loan to Banco Agrícola S.A. of El Salvador. Banco Agricola will use the loan proceeds to support its supplementary capital structure and for the origination of sub-loans to small and medium-sized enterprises in El Salvador, with an emphasis on Salvadoran…
Category Archives: Blog
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Jun
Jun
Luis Ortiz Partner Costa Rica | [email protected] Gloriana Alvarado Senior Associate Costa Rica | [email protected] The famous English economist John Hicks was once asked: What is monopoly? The Nobel Prize winner replied: The quiet life (Hicks, 1935). On the other hand, competition, as the famous American judge Learned Hand said at the time, is constant…
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Jun
Jun
As of June 16, the presentation of a negative RT-PCR test for COVID-19 is no longer necessary to enter Nicaragua. This exemption also applies to aircrews and passengers. The only requisite to enter the country is to present a complete schedule of two doses of any vaccine approved by the WHO or registered within the…
At BLP, Blog, El Salvador
BLP has advised IDB Invest on the first issuance of Sustainability Bonds in El Salvador
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Jun
Jun
IDB Invest and Banco Promerica S.A., El Salvador (Banco Promerica) joined forces to issue the first Sustainability Bonds in El Salvador to finance green and social projects. BLP acted as legal advisor to IDB Invest in El Salvador during the transaction. IDB purchased the entire first tranche of $20 million out of a $100 million…
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Jun
Jun
BLP’s summary of the most important regional news and opportunities offers an overview of the economic, social, and political landscape of Central America at just a click away. From July 19 to July 25, 2025 CABEI debuts with social bonds in Costa Rica worth ¢71.5 billion The Central American Bank for Economic Integration (CABEI) made…
Blog, Costa Rica, News
Reform to combat employment discrimination against women in maternity condition
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Jun
Jun
In response to the amendment of articles 94, 94 BIS, 95, 96, 97, 100 and the addition of subsection K) to article 70 of the Labor Code regarding the granting of the three types of Special Leaves of Absence, the CCSS has issued guidelines for these furloughs, which are detailed below: 1. Leave of Absence…
15
Jun
Jun
The initiative to establish June 17 as Father’s Day, a mandatory paid holiday, was brought before Congress in 2021 to ensure equal treatment for both genders. However, although six separate bills have tried to establish June 17 as a parental holiday, five have been archived. The one bill still in the Judicial Commission of the…
Blog, Costa Rica, News
Update of the term for the presentation of the declaration of inactive companies in Costa Rica
15
Jun
Jun
On June 10, through an official press release, the General Directorate of Taxation reported the recovery of the online platform of the Virtual Tax Administration (ATV), one of the tax channels affected by the cyber attack of April 18, 2022. Because of this, new deadlines were established for the filing of returns, including the simplified Form D-101, that those companies which did not register economic activity for the years 2020…
Blog, Costa Rica, News
Costa Rica publishes Guide for Exoneration and Reduction of Sanctions for anticompetitive agreements
13
Jun
Jun
The Commission to Promote Competition (COPROCOM) and the Telecommunications Superintendency (SUTEL) have announced the Guide to the Program of Exoneration and Reduction of Administrative Sanctions detailing the criteria and guidelines that grant benefits to violators who cooperate with the investigation of anti-competitive practices. The Administrative Penalties Reduction and Exoneration Program, known as the clemency program,…
10
Jun
Jun
Amigos of Costa Rica is honored to share the election of David Gutiérrez as President of the Board of Directors of Amigos of Costa Rica. Mr. Gutiérrez is a founding Partner of BLP, a Central American law firm, currently leading its offices in Madrid, Spain. He has a long track record of service for Costa…