25860 - EDYFICAR PCG

Who We Are
Who We Are

IFC is the largest global development institution focused on the private sector in developing countries. By encouraging growth, IFC advances economic development, creates jobs and improves the lives of people.
More About Us
About IFC

Our Leadership

Development Partners
Accountability

Learn more about accountability
Annual Report

Download the Report
What We Do
What We Do

IFC advances economic development and improves the lives of people by encouraging the growth of the private sector in developing countries. We achieve this by investing in impactful projects, mobilizing other investors, and sharing expertise.
What We Do Overview
SOLUTIONS

Our products and services
OUR PRIORITIES

Climate Business

Fragile & Conflict Afflicted Situations

Gender

Mobilizing Private Capital

Sustainability
SECTORS & EXPERTISE

Agribusiness & Forestry

Creative Industries

Education

Financial Institutions

Funds

Health

Infrastructure

Manufacturing

Public-Private Partnerships

Tourism, Retail & Property

Trade & Supply Chain Finance

Venture Capital

Working Upstream
Where We Work
Where We Work

As the largest global development institution focused on the private sector, IFC operates in more than 100 countries around the globe. We apply lessons learned in one region to solve problems in another.
Overview
By Region

Africa

East Asia and Pacific

Europe

Latin America and the Caribbean

Middle East and Central Asia

South Asia
Our Impact
Our Impact

Our impact improves lives. IFC brings a clear set of advantages to the world’s most challenging markets. Including a history of innovation, a global mandate, and a determination to achieve measurable development impact.
Our Impact Overview
PRINCIPLES & MEASUREMENT

Impact Investing at IFC

Measuring and Monitoring (AIMM)

Evaluation

Sustainable Development Goals (SDGs)

Owned by 186 member countries and consistently rated AAA/Aaa. IFC aims to achieve our mission of promoting development by providing debt and equity to the private sector, through a range of benchmark and bespoke products.

For Partners

For Investors

Get in Touch

Summary of Proposed Investment

Project Number

25860

Company Name

Empresa Financiera Edyficar S.A

Date SPI Disclosed

May 9, 2007

Country

Peru

Industry

Financial Markets

Projected Board Date

Jun 11, 2007

Status

Completed

Sector

Microfinance and Small Business - Non Commercial Banking

Department

Global Industry, Financial Markets

Environmental Category

Previous Events

Approved : Aug 3, 2007
Signed : Oct 30, 2007
Invested : Dec 9, 2004

Project Description

EDPYME EDYFICAR (Edyficar or the company) is a microfinance institution that provides credit services to the low-income segment in Peru. Edyficar was established as a private limited company in 1997, and started its operations in 1998, after obtaining a limited banking license from the Peruvian Superintendent of banks and insurance companies. As of December 2006, Edyficar had a staff of 617 people and 36 branch offices, 23 of which were outside Lima. Edyficar is the second largest Peruvian micro-finance institution in terms of number of clients, serving more than 89,000 customers, and the eighth largest in terms of portfolio size.

The proposed project involves assisting Edyficar accessing the Peruvian capital market to help it fund its expected growth and diversify its funding sources. The investment fits well IFC strategy with regards to the financial sector, by supporting a microfinance institution which focused on an underserved market.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee	12.76
Loan
Equity

Development Impact

The development impact of IFC’s financing to Edyficar is expected to be high, as it is expected to support productive microenterprises and promote employment generation. Given Edyficar’s average loan size of less than $900, and its 7 month duration, IFC’s PCG is expected to enable Edyficar to provide more than 100,000 loans during the life of the project. The beneficiaries of these loans will be low-income microentrepreneurs. The facility will also help develop the local capital markets for non-banking MFIs with credit ratings below AA.

Through this project, IFC will support the planned expansion of Edyficar’s micro finance portfolio, by helping it fund its growth and diversify its funding sources by accessing the local capital markets. The Partial Credit Guarantee which IFC would be providing to Edyficar, is expected enhance the rating given to Edyficar’s planned bond therefore incrementing the demand for this bond from local institutional investors.

Edyficar has been classified as a Category FI project according to IFC’s Environmental and Social Review Procedure. As an existing client with an operational environmental management system (EMS) Edyficar will be required to:

- maintain its existing EMS to ensure that all its investments are screened and processed to avoid supporting activities on the Microfinance exclusion list;
- ensure qualified persons are present to manage and implement the EMS;
- continue to submit periodic reports to IFC.

Contacts

For Inquiries About the Project, Contact

Mr. Luis Guerra, Financial Manager
EDYFICAR S.A.
Av. General Córdova 591, Urb.Sta.Cruz
Miraflores, Lima, Peru

E-mail: guerral@edyficar.com.pe
Website: http://www.edyficar.com.pe/

For Inquiries and Comments About IFC, Contact

General IFC Inquiries
IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
E Mail: Webmaster

This Summary of Proposed Investment is prepared and distributed to the public in advance of the IFC Board of Directors' consideration of the proposed transaction. It is not an offer of shares to the public and is intended solely to enhance the transparency of IFC’s activities. This document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only. The following SPI is disclosed in accordance with IFC’s Policy on Disclosure of Information that went into effect April 30, 2006.

The map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Country borders or names do not necessarily reflect the World Bank Group's official position. In some cases, available project location information is limited to the country of the project's activities. Locations are approximate.

Projects

Summary of Proposed Investment

Project Description

Sponsor / Cost / Location

Development Impact

Similar Projects

Contacts

Projects

Summary of Proposed Investment

Project Description

Sponsor / Cost / Location

Project Sponsor and Major Shareholders of Project Company

Total Project Cost and Amount and Nature of IFC's Investment

Board Approved IFC Investment

Location of Project and Description of Site

Development Impact

Anticipated Impact Measurement & Monitoring (AIMM) Assessment

IFC's Expected Development Contribution

Environmental and Social Issues - Category

Press-Release

Related ESRS/ERS

Similar Projects

Contacts

Disclaimer