Project Description
The project involves a PEN6.7 million senior loan to Edpyme Confianza (approximately $2.0 million), a specialized Peruvian microfinance institution working with microentrepreneurs in the country’s central highlands, a large portion of whom are located in rural and semi-rural areas. The project will diversify Confianza’s funding base and provide it term financing to expand its loan portfolio and offer longer maturities to its microenterprise clients. IFC’s financing would enable Confianza to provide approximately 11,000 additional microenterprise loans over the life of the project. As an EDPYME, Confianza is organized as a private stock company operating under the supervision of the Peru’s Superintendency of Banking and Insurance. Confianza has 167 staff, nine branch offices and currently serves 25,858 clients in the central highland regions of Junín, Huancayo and Ucayali, as well as Lima.