PROJECT

Projects

Summary of Proposed Investment

Project Number

24892

Company Name

Edpyme Confianza

Date SPI Disclosed

May 10, 2006

Country

Peru

Industry

Financial Markets

Projected Board Date

Jul 31, 2006

Status

Completed

Sector

Commercial Banking - Microfinance and Small Business

Department

Regional Industry FIG LAC & EUR

Environmental Category

FI

Previous Events

Approved : Oct 13, 2006
Signed : Nov 3, 2006
Invested : Jan 26, 2007

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.

Sponsor / Cost / Location

Development Impact