The Instituto Costarricense de Electricidad (ICE) has been certified as a Cash-Free Entity under the Programa L initiative led by the Central Bank of Costa Rica (BCCR). The certification was awarded on September 24, following a process that began earlier in 2025 with support from Banco de Costa Rica (BCR).
Programa L aims to reduce cash usage and increase electronic transactions within institutions across Costa Rica. ICE underwent an evaluation and advisory process with BCR to meet the requirements for certification.
During a ceremony at BCR’s central offices, representatives from BCCR presented ICE with the Programa L certificate. BCR also awarded ICE the Bandera L, which distinguishes accredited entities.
Francisco Carvajal, director of the SINPE Department at BCCR, stated: “The certification as a Cash-Free Entity under Programa L from the Central Bank is a national initiative that strengthens efficiency and transactional security for users of the national financial system and their interaction with public institutions, such as ICE, whom we congratulate for this great work. It reflects a continuous pursuit of improvement in service quality offered to its users and a commitment to supporting projects that aim for widespread growth in the country. We appreciate your participation in this path toward institutional modernization and working together for the benefit of all Costa Rican society.”
According to ICE officials, achieving this milestone brings several benefits including reduced operational risks and improved payment controls. The verification process by BCCR involved assessing 16 criteria related to electronic payments and revenue collection across business units. ICE achieved an advancement score of 90 out of 100, meeting accreditation standards.
Harold Cordero, general manager of ICE, said: “The certification strengthens the security, efficiency, and transparency of our financial management, demonstrating our commitment to modernization, innovation, and digital transformation. Likewise, we comply with BCCR standards; we promote traceability in operations and facilitate financial control, which increases confidence among clients, employees, and strategic partners.”
Julio César Trejos, general manager of BCR added: “We are proud to have supported ICE—our strategic partner—in achieving certification. We have nearly 50 years of commercial relationship and are excited to continue being allies in fulfilling their goals. One way our commitment to sustainable development and people’s well-being is realized is through active participation in BCCR’s methodology with Programa L. With our Impulso Sostenible business model we foster a banked society that prioritizes alternatives to cash use to promote security and efficiency.”
With this new status as a Cash-Free Entity, ICE aims to enhance its competitiveness and reputation while contributing toward Costa Rica’s broader goal of fostering a safer, more digital economy.
