IFC, Mibanco to fund SME financial services access

Thursday, November 10, 2011

IFC, a member of the World Bank Group, signed an agreement with Peruvian SME lender Mibanco to increase access to financial services for micro, small and medium enterprises, as well as low-income and rural populations and women in the country, according to a press release from the international lender.

IFC will mobilize US$40mn in long-term financing, 75% of which will be in local currency, allowing Mibanco, part of Grupo ACP Holding, to expand its SME portfolio in the country.

With more than 630,000 clients, Mibanco is one of the fastest growing players in Peru's microfinance market.

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