Germany Donates Credit for SMEs

October 28, 2005

SMALL and medium enterprises(SMEs) can now count on a new resourceto help lessen their impact on the environment,thanks to a 15 million euro ($18million) line of credit extended byGermany to Costa Rica.Costa Rica and Germany signed a conventionOct. 13 to offer the credit, whichcomes from the German bank KfW (Kreditanstaltfür Wiederaufbau), to SMEsthrough the Banco Nacional de Costa Rica,according to a statement from the ForeignRelations Ministry. The credit will assistbusinesses that otherwise couldn’t affordto invest in technologies that reduce theirimpact on the environment.The convention, signed by CostaRican Foreign Relations Vice-MinisterMarco Vinicio Vargas and GermanAmbassador Volker Fink, also establishesa Technical Assistance Fund, which willaid Costa Rican businesses in credit applicationsand environmental investments,the statement said.Businesses in the industrial, serviceand tourism sectors will be eligible for theprogram.

You may be interested

Download our High Season Print Edition here
The Tico Times
529 views
The Tico Times
529 views

Download our High Season Print Edition here

The Tico Times - December 17, 2017

Thanks to all the readers from around Costa Rica and the world who have written to ask how they can…

PHOTOS: Costa Rica’s Festival of Light
Holidays
2164 views
Holidays
2164 views

PHOTOS: Costa Rica’s Festival of Light

AFP - December 17, 2017

Costa Rica's traditional Festival de la Luz, a holiday parade through the heart of San José, filled the capital with…

Give green in Costa Rica: holiday gifts that will live on all year
Environment and Wildlife
1156 views
Environment and Wildlife
1156 views

Give green in Costa Rica: holiday gifts that will live on all year

Ed Bernhardt - December 16, 2017

A warm holiday greeting from the garden to all our readers. Another year has come to an end, and it’s…