Costa Rica expands access to housing finance with Millions of Dollars of concessionary loans from IIC on behalf of IADB

​The Inter-American Investment Corporation (IIC), on behalf of the Inter-American Development Bank (IDB) Group, has established a strategic partnership with Cooperativa Nacional de Educadores, RL (“COOPENAE”), a leading savings & credit cooperative in Costa Rica, to increase access to housing finance in that country.

The financing package consists of a $30 million loan in local currency with a term of five years and a $5 million loan in US dollars with a term of six years. Both loans will support COOPENAE’s efforts in providing affordable housing while contributing to the reduction of Costa Rica’s housing finance gap.

The loans will address the housing deficit by providing medium-term financing to COOPENAE, in order to support its mortgage portfolio intended to offer affordable housing solutions to its members. By partnering with COOPENAE, 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.