IDB Invest, the private sector arm of the IDB Group, has signed a loan of up to $30 million with Cooperativa de Ahorro y Credito de los Servidores Publicos, R.L. (Coopeservidores) to increase access to housing finance in Costa Rica.
Through this transaction, IDB Invest will provide medium-term financing to Coopeservidores to support Coopeservidores’ efforts in providing affordable housing to its members, while contributing to the reduction of Costa Rica’s housing finance gap.
By partnering with Coopeservidores, IIC’s loan capitalizes on the cooperative’s market leadership, supporting its ongoing efforts to increase its mortgage portfolio targeting the traditionally under-served affordable housing segment of the population.
About the IDB Invest
IDB Invest, a member of the Inter-American Development Bank (IDB) Group, is a multilateral development bank committed to supporting the private sector in Latin America and the Caribbean. It finances sustainable enterprises and projects to achieve financial results that maximize economic, social and environmental development for the region. With a current portfolio of $11.6 billion under management and 330 clients in 21 countries, IDB Invest works across sectors to provide innovative financial solutions and advisory services that meet the evolving demands of its clients. As of November 2017, IDB Invest is the trade name of the Inter-American Investment Corporation. www.idbinvest.org
Coopeservidores is one of the largest financial cooperatives in Costa Rica and Central America. With more than 60 years of experience, Coopeservidores aims at stimulating savings and providing finance solutions among its members. Currently, Coopeservidores has more than 100,000 members.