CAF 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.
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.
CAF's more recent content
CAF, ECLAC, IDB and PAHO Promote Sustainable Development in the G20
The Regional Organizations of the Americas congratulate Brazil on its successful G20 Presidency, highlighting its leadership on key issues such as poverty, governance, and climate change. They also reaffirm their commitment to actions that promote equity and development in the region.
Urgent Call for Action to Safeguard Caribbean SIDS at CAF Symposium
As the global community grapples with the escalating climate crisis, Caribbean Small Island Developing States (SIDS) are running out of time to secure critical investments and support needed to strengthen their economies and protect vulnerable communities from the intensifying impacts of climate change. With the window to take decisive action rapidly shrinking, CAF - Development Bank of Latin America and the Caribbean, in partnership with the Commonwealth Secretariat and the Antigua and Barbuda High Commission, brought together key stakeholders for a symposium in London to address the critical vulnerabilities Caribbean SIDS face.