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Support Asoc.desarrollo Rural Integrado

The overall objective of the program is to enable ADRI to position itself satisfactorily in the domestic financial market as a formal financial institution regulated by the Office of the Superintendent for Financial Institutiona (SUGEF). The financing requested will be used to fund a number of concrete activities so that ADRI can begin the process of changing its status. These activities are as follows. a) Providing technical assistance with respect to the legal incorporation of a financial institution, including: (i) managing legal matters related to the incorporation of a financial institution; (ii) identifying the most appropriate legal means of transferring ADRI's assets to the financial institution; and (iii) Furnishing a legal opinion on all inquiries submitted by the ADRI Board of Directors concerning the incorporation process. b) Providing technical assistance for a feasibility study on incorporation. This is one of the main prerequisites established by SUGEF for considering the incorporation of a financial institution. c) Providing technical assistance for evaluating and developing administrative, operating, and accounting procedures and preparing the corresponding manuals. The transformation of ADRI into a regulated, non-banking institution (a new legal structure, new services, etc.) requires that these procedures (which are appropriate for its present status as a non-profit NGO) be reviewed and updated to meet the needs of the new institution. d) Purchasing and installing the necessary computer equipment to manage the financial institution's loan portfolio. To this end, it will be necessary to purchase the software specified by SUGEF in order to operate as a regulated institution. e) Training ADRI personnel, including members of the Board of Directors, in areas such as supervised lending, credit analysis and evaluation, customer service, interest rates, collateral appraisal, and new credit methodologies for increasing profitability. In addition, the funding will support traineeships to enable employees to become familiar with other financial institutions in Central America. f) Hiring, two consultants, one a specialist in banking and another in financial management, to assist ADRI in planning and establishing procedures for consolidating its position as a regulated financial institution. g) Hiring a technical consultant to assist ADRI during the transformation process. The consultant will: (i) assist the Board of Directors in preparing the terms of reference, selecting the consultants, and monitoring the activities performed by the latter; (ii) based on the criteria stipulated by SUGEF, study bids submitted to provide the financial software required to operate as a non- banking financial institution, and issue a legal opinion to the Board of Directors; (iii) develop a strategic plan outlining short- and medium-term objectives in the administrative and financial areas; and (iv) develop a marketing strategy aimed at increasing the number of female customers.

Project Detail


Costa Rica

Project Number


Approval Date

September 21, 1999

Project Status


Project Type

Technical Cooperation





Lending Instrument

Instrumento del Fondo Multilateral de Inversiones

Lending Instrument Code




Facility Type


Environmental Classification


Total Cost

USD 370,000.00

Country Counterpart Financing

USD 110,000.00

Original Amount Approved

USD 260,000.00

Financial Information
Operation Number Lending Type Reporting Currency Reporting Date Signed Date Fund Financial Instrument
ATN/ME-6663-CR Non-Sovereign Guaranteed USD - United States Dollar Multilateral Investment Fund II (MIF) - Nonreimbursable
Operation Number ATN/ME-6663-CR
  • Lending Type: Non-Sovereign Guaranteed
  • Reporting Currency: USD - United States Dollar
  • Reporting Date:
  • Signed Date:
  • Fund: Multilateral Investment Fund II (MIF) -
  • Financial Instrument: Nonreimbursable
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