DUE DILIGENCE FOR OPIC-SUPPORTED INVESTMENT FUND

UNCLAS SAN JOSE 000018 SIPDIS SIPDIS E.O. 12958: N/A TAGS: EINV CS SUBJECT: DUE DILIGENCE FOR OPIC-SUPPORTED INVESTMENT FUND REF: State 200498 (2006) ¶1. The administration of President Oscar Arias has given a priority to improving the supply of housing for low and middle income sectors as part of the administration's complementary agenda for development. The Alsis Latin America Mortgage Fund goal to originate and securitize mortgages of approximately $30,000 is consistent with the goals of the Arias administration. ¶2. Post is aware that the Overseas Private Investment Corporation (OPIC) recently provided loan guarantees to Citibank for a program in Costa Rica designed to make loans to small and medium sized enterprises and for moderate income mortgages. ¶3. Post has no information, derogatory or otherwise, regarding the prospective fund manager, nor was post able to locate any reference to the fund manager in a web search of local press. LANGDALE