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caf.com / news / $10-million funding to further develop microfinance in peru

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21 de December de 2018CAF and Caja Huancayo agree on $10-million funding to further develop microfinance in Peru

Peruvian micro and small entrepreneurs will benefit from improved access to financing at competitive rates in soles and in dollars to promote productivity and sustainable development.

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As part of its strategy to support financial inclusion in member countries, CAF-development bank of Latin America- approved a credit line to fund the Huancayo municipal savings and credit bank in the amount of US$10 million.

“For Caja Huancayo it is vital to have the support from CAF, which will allow us to continue having an impact and bringing about social transformation, putting these funds to the service of growth and development of micro-entrepreneurs in the country, as a driver of development in Peru,” said Victor Valdivia Morán, Manager of Operations and Finance at Caja Huancayo.

In addition, Manuel Malaret, CAF representative in Peru, said that “this operation allows us to continue providing significant support to Peruvian micro and small businesses and to position CAF as a relevant player in this industry, meeting Caja Huancayo’s financing needs in local currency.” He also stressed that CAF will continue supporting and conducting operations with other similar entities.

The facility may be disbursed in soles, with guarantees issued by CAF, and also includes a sub-limit of up to $2 million for financing SMEs wishing to invest in projects that qualify for the “Energy Efficiency and Green Businesses with Financial Institutions” Program sponsored by CAF.

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