Costa Rica News – Most people and companies are charged 14% on loans.
One cooperative, however, signed a loan of ¢2,875 million at an annual interest rate of 2% and a 35 year term and a five year grace period before the start of payment.
This happened at the Instituto Cooperativa de Fomento Cooperativo (Infocoop) in December 2016.
It was done with the support of the current Minister of Agriculture who is also president of the institute.
In the last 10 years, this type of story is not uncommon. Credits from Infocoop and the rest of the financial market tend to have a difference in interest of up to 16 percentage points.
9 loans with interest of 5% or less have been approved during the Solis administration, 12 under Chinchilla and 7 when Oscar Arias was in power.
The largest credits were awarded to the Solis administration.