There are less than two months until the deadline for Bancrédito to get out of financial intermediation and become a development bank; however, until now, the bill in the Legislative Assembly sees no progress. The deadline set by the Governing Council is December 31st.
The government expects that in December, when the extraordinary sessions begin in Congress, progress will be made on this issue and that approval can be obtained for the creation of the Costa Rican Development Bank. The Executive will convene the project.
Bancrédito’s board of directors sent a note to the government on November 1st requesting a meeting with President Luis Guillermo Solís to discuss the latest reports sent to the Executive and the Superintendence of Financial Institutions (Sugef).
The meeting would take place after November 13th, the day Solís resumes his duties after recovering from the prostate surgery he underwent in mid-October.
“We look for the Costa Rican Development Bank to become a vehicle for economic development, including components of entrepreneurship, innovation and internationalization, under the supervision of the General Superintendence of Financial Institutions (SUGEF) , which will guarantee the efficiency of this non-commercial operation,” said Mariano Segura , Commissioner of the Economic Presidential Council.
The bank canceled many of the responsibilities that were pending and in the next 15 days will cancel the missing creditors, except for the Ministry of Finance, which would remain as the only creditor of Bancrédito.