Costa Rica Business News
  • July 13, 2024
  • Last Update July 12, 2024 7:56 am

BCIE and INCAE Join Forces to Empower Business Women-Led MSMEs in Costa Rica

BCIE and INCAE Join Forces to Empower Business Women-Led MSMEs in Costa Rica

Alajuela, Costa Rica — In a groundbreaking move to support women entrepreneurs, the Central American Bank for Economic Integration (BCIE) and INCAE Business School have signed a cooperation agreement to boost women-led nicro, small and medium-sized enterprises (MSMEs) in Costa Rica. This initiative, part of the “Mipymes Verdes II” project, aims to foster sustainable business practices among female-led SMEs, enhancing their strategic and environmental sustainability.

Funded by the German government through KfW and the European Union, the agreement allocates US$133,677 for technical cooperation. This initiative targets 50 women-led businesses across Central America, providing them with strategic diagnostics and sustainability assessments through a hands-on learning approach.

Notably, 25 of these MSMEs, identified as having the most innovative sustainability ideas, will receive individualized mentorship from INCAE to develop green projects focusing on renewable energy, energy efficiency, and cleaner production methods. This mentorship aims to equip these businesses with the knowledge and skills necessary to implement sustainable practices and compete more effectively in the market.

In addition to mentorship, six outstanding MSMEs will be awarded US$1,000 each to kick-start their green projects. This financial incentive underscores the commitment to promoting environmental stewardship and economic growth through sustainable initiatives.

The “Mipymes Verdes II” initiative has already made significant strides regionally, extending over US$40 million in loans and US$7 million in guarantees, thereby safeguarding over 10,000 jobs in more than 600 companies. This new agreement with INCAE is a testament to BCIE’s dedication to enhancing the capabilities of women entrepreneurs and contributing to the broader goal of environmental protection.

Costa Rican women have long been recognized for their high educational attainment and leadership qualities. Many are fluent in English and possess the skills necessary to lead successful enterprises. This new initiative builds on their strengths, offering them the tools and resources needed to thrive in a competitive business environment.

This partnership highlights the vital role of women in driving sustainable development and economic progress in Costa Rica. As women-led MSMEs receive the support they need to innovate and grow, the entire economy stands to benefit from their contributions.

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About BCIE:
The Central American Bank for Economic Integration (BCIE) is a regional financial institution committed to promoting economic integration and balanced development in Central America. Through various initiatives, BCIE supports sustainable development projects that enhance the economic and social well-being of the region’s inhabitants.

For further information, visit

About INCAE Business School:
INCAE Business School is a leading business education institution in Latin America, dedicated to training leaders capable of fostering sustainable development in their countries. INCAE provides high-quality education and mentorship to entrepreneurs, helping them to implement innovative and sustainable business practices.

Costa Rica Business News
Founded in 2004, TicosLand has firmly established itself as a pivotal resource for the corporate community in Costa Rica. Catering to a substantial international readership, TicosLand provides timely and essential updates and press releases pertaining to the myriad businesses operating within Costa Rica.

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