JICA has signed a $50 million loan agreement with MIBANCO in Peru to enhance financial access for micro and small enterprises, particularly in the northern regions of the country.
Target Information
On May 6, the Japan International Cooperation Agency (JICA) held a signing ceremony in Lima, Peru, for a loan agreement with MIBANCO, Banco de la Microempresa S.A., a leading microfinance institution in Peru. This initiative aims to enhance financial access for micro and small enterprises, particularly in the northern regions of the country.
The project, known as the Northern Small Enterprise Support Project, involves the allocation of up to $50 million in loans to MIBANCO. This financial support is designed to specifically improve the financial inclusion of businesses in eight northern states of Peru: Tumbes, Piura, Lambayeque, Cajamarca, Amazonas, Loreto, San Martin, and La Libertad. Within this setup, 70% of the loan funds will be dedicated to small enterprises in the northern regions, while 30% will target businesses owned by women across the country.
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Industry Overview in Peru
The microfinance sector in Peru has experienced significant growth and development over the past few years, driven by an increasing recognition of its role in fostering economic inclusion and devel
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Transaction Size: $50M