The Development Bank of Peru – Cofide reported that the program Impulse Myperudesigned by the Ministry of Economy and Finance (MEF) to assist in the reactivation of micro and small businesses, has assigned to date close to S/2.4 billion in guarantees.
“This is reflected in the successful seventh auction of the program, in which a total of S/400 million in guarantees was assigned,” Cofide said in a press release.
According to the bank, the auction obtained a record demand greater than S/860 million, for which “the amount auctioned had to be increased from S/250 to S/400 million”, obtaining an Annual Effective Cost Rate (TCEA) of 12.5%.
“Which is much lower than the average rate of the microfinance sector, which is usually higher than 29%,” said Cofide.
The TCEA proposed by each participating financial institution will be transferred to the final beneficiaries, which will represent savings for MYPEs.
There were nine financial institutions and savings and credit cooperatives that were able to allocate the guarantee amounts during the seventh auction: Banco Mibanco and Banco Pichincha; the Huancayo, Arequipa, Tacna and Paita CMACs; the Effective Financial; and the CRAC Los Andes and Del Centro.
To date, close to S/2.400 million in guarantees have already been assigned and, of the total disbursements made (S/769 million), more than 80% have been outside Lima, Puno being the main favored regions (23.27 %), Arequipa (8.03%), Cusco (6.55%) and Piura (6.48%).
The use of disbursed resources has been destined for working capital (31.50%), debt consolidation (44.01%) and the purchase of fixed assets (24.48%), which shows the impact that The program has been generating the economic reactivation.
Source: Larepublica
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