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Saturday 20 December 2008, San José, Costa Rica 
SUTEL Board Members Appointed
 Zapote Fair Is A Go!
 Legislators Ask Banks To Use Funds Wisely
 Rodriguez Loses His Freedom Again
 Spain donates €35,000 Euro to prevent spread of disease in Costa Rica
 4.000 Cowboys To Invade San José Next Friday
 
 Legislators Ask Banks To Use Funds Wisely
At 11:36am Friday, legislators approved in second reading the Ley de Capitilizacion that will infuse us$117.5 million dollars to state banks to provide credit for small and medium sized business to spur the economy.

Under the plan, the Banco de Costa Rica (BCR) and the Banco Nacional (BN) will each reaceive us$50 million dollars, while the Banco Crédito Agrícola de Cartago (Bancrédito) will receive us$17.5 million.

Legislators urged that banks will go to "working hands" and that it will be spread out in all seven provinces and not just in one or two areas.

The passing of the bill now gives the Ministerio de Hacienda the authority to distribute the funds to the banks before the December 31 deadline.

The Banco Popular, which is not considered a wholy owned state bank was excluded from the cash infusion.
 
 
 

 

 
 
 

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