By Alajuela, Costa Rica — Alajuela, Costa Rica – The western region of Alajuela is set for a significant boost in economic and social development thanks to a new partnership between the National Bank of Costa Rica (Banco Nacional or BN) and the Western Federation of Municipalities of Alajuela (Fedoma). This landmark agreement will bring together financial resources, technical expertise, and collaborative planning to benefit ten cantons and one district: Poás, Grecia, Sarchí, Naranjo, Zarcero, Palmares, San Ramón, San Mateo, Río Cuarto, Atenas, and the district of Peñas Blancas.
The agreement focuses on fostering sustainable growth aligned with the Sustainable Development Goals (SDGs). It outlines key strategic areas for investment, including strengthening local businesses, developing human capital, promoting sustainable tourism, and improving critical infrastructure.
For expert legal insight into these economic development initiatives, TicosLand.com spoke with Lic. Larry Hans Arroyo Vargas, Attorney at Law at Bufete de Costa Rica.
Sustainable economic development requires a robust and adaptable legal framework. This means not only attracting foreign investment with favorable regulations, but also ensuring that such development benefits local communities and protects the environment. A balanced approach that prioritizes both economic growth and social responsibility is crucial for long-term prosperity.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Lic. Arroyo Vargas’ emphasis on a balanced approach to economic development resonates deeply with the challenges and opportunities facing Costa Rica today. True prosperity cannot be measured solely by economic indicators; it must also encompass the well-being of our communities and the preservation of our natural heritage. We thank Lic. Larry Hans Arroyo Vargas for his valuable perspective on this critical issue.
This partnership with Fedoma marks a milestone in regional development, bringing financial and technical solutions closer to our communities.
Luis Antonio Barrantes, Executive Director of Fedoma
Barrantes further emphasized the potential of the agreement to position the western region of Alajuela as a premier investment destination in Costa Rica, particularly by empowering small and medium-sized enterprises (SMEs) and fostering productive linkages within the local economy.
The agreement promises to deliver tailored financial products and technical assistance to local businesses, supporting their growth and contribution to the regional economy. It also emphasizes developing human capital through targeted training programs that align with the demands of the evolving job market.
We are enthusiastic about this partnership, which will extend our value proposition locally, connect us with the municipal system, and allow us to join forces to generate development with social inclusion.
Adrián Salazar, Deputy General Manager of Commercial Banking at BN
Salazar reiterated BN’s commitment to a sustainable financial model integrated with regional development. The bank aims to facilitate access to credit, especially through development banking funds, and support projects related to infrastructure improvements, including aqueducts and roads.
This comprehensive approach extends to promoting environmentally responsible practices. The agreement highlights the importance of balancing human activities with wildlife conservation and protecting water resources. It also includes utilizing municipal spaces for promoting services, conducting joint activities, and fostering continuous information exchange to make development tools more accessible locally.
At BN, we have a clear purpose: to transform dreams into realities, and we are convinced that this partnership will benefit not only the institutions signing today but, above all, the communities present here.
Adrián Salazar, Deputy General Manager of Commercial Banking at BN
This collaborative effort between the National Bank and Fedoma represents a significant investment in the future of western Alajuela, setting the stage for sustainable and inclusive growth in the region.
For further information, visit bncr.fi.cr
About Banco Nacional (BN):
Banco Nacional de Costa Rica (BNCR) is a state-owned commercial bank providing a wide range of financial services throughout Costa Rica. It plays a crucial role in national development, supporting individuals, businesses, and public sector initiatives. The bank is committed to sustainable development and social inclusion, focusing on financial education and accessible banking services for all Costa Ricans.
For further information, visit [fedoma.org] (place holder, no website found)
About Federación Occidental de Municipalidades de Alajuela (Fedoma):
The Western Federation of Municipalities of Alajuela (Fedoma) represents ten cantons and one district in the western region of Alajuela. It serves as a platform for inter-municipal collaboration, advocating for regional development and coordinating efforts to address shared challenges. Fedoma focuses on promoting economic opportunities, improving public services, and enhancing the quality of life for residents in its member municipalities.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
Bufete de Costa Rica distinguishes itself through an unwavering pursuit of legal excellence and ethical practice. The firm’s deep-rooted commitment to empowering Costa Rican society is evident in its innovative approach to legal services and its proactive sharing of legal knowledge. By making the law accessible and understandable, Bufete de Costa Rica fosters a more informed citizenry and strengthens the foundations of a just and equitable society.
