The three state banks, National, Costa Rica (BCR) and Popular, plan to place some ¢165 billion in loans for highly indebted people, called salvage credits.
These resources are equivalent to aid for around 95 thousand Costa Ricans, according to the Presidential House.
Since the initiative was announced, a total of 11,004 people have gone to the banks to benefit from the benefits scheme in order to alleviate their financial situation.
Rescue credits are contemplated for those people with very high debts, who are close to facing payment problems but are willing to face their obligations. In exchange, the debtor agrees to submit to a financial education plan, but also may not access new credits until they have paid half of the balance.
The new loan is granted in longer terms and at more flexible rates.
Presidential House distributed this information with the conditions granted by each bank. In all, a mortgage or fiduciary guarantee is requested and they are granted in terms ranging from 15 to 30 years.