EMGA Closes on $15 Million USD in Financing with Banco Improsa in Costa Rica

EMGA Closes on $15 Million USD in Financing with Banco Improsa in Costa Rica

Emerging Markets Global Advisory LLP (EMGA), in partnership with Costa Rican bank Banco Improsa, has secured a $15 million USD line of credit from the Japan International Cooperation Agency (JICA).

EMGA, which has offices in New York and London and counts Costa Rica as a key market, specializes in helping financial institutions and corporations like Banco Improsa secure new debt or equity capital.

“In spite of a challenging global macroeconomic environment, we are pleased to once again facilitate Banco Improsa’s continued vision to supporting SMEs in Costa Rica and complete this financing solution,” said Sajeev Chakkalakal, head of investment banking and managing director of EMGA.

Felix Alpizar Lobo, general manager of Banco Improsa, noted that the development highlights the company’s commitment to strengthening the small- and medium-sized enterprise segment in the Central American nation.

“Banco Improsa is proud to share JICA’s objective of contributing to the economic and social growth of developing countries,” he said.

JICA is a governmental agency that provides most of the “official development assistance” for the government of Japan. It is chartered with assisting the economic and social growth of developing countries, and the promotion international cooperation.

“Banco Improsa’s strong management and healthy financial position were key factors in helping the EMGA Investment Banking team secure this funding, and this JICA facility will further strengthen Banco Improsa’s ability to grow its core SME lending book,” said Jeremy Dobson, managing director of EMGA.

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