Reactiva III: municipal savings banks request a fund of more than S/5,000 million and exclusive focus on mypes

The president Dina Boluarteduring his message to the nation on July 28, announced the launch of Reactive III to support the economic recovery of micro and small businesses (mypes). The new program will be aimed at promoting the Fund Growwhich provides guarantees to cooperatives and associations, according to the head of Economy and Finance, Alex Contreras.

However, taking into account that the previous Reactiva have not reached the companies that needed the support of state-guaranteed loans, the new launch must consider some key points, he points out. Jorge Solis Espinozapresident of the Peruvian Federation of Municipal Savings and Credit Banks (FEPCMAC).

In the first place —says Solís—, Reactiva III should not focus only on the Crecer Fund, but on the micro and small business segment in general. In this sense, he warns that the aforementioned fund, in the last four years, has granted financing for around S/300 million without achieving a significant impact on mypes.

A second point highlighted by the president of the FEPCMAC is that Reactiva III should only consider micro and small companies, since, in its opinion, lhe Reactiva I and II did not reach these business units and only benefited large and medium-sized companies.

Additionally, Solís stresses that, to achieve a significant effect in the sector, the fund allocated to this initiative should not be less than S/5,000 million. This would benefit around 5 million mypes, providing them with microcredits ranging between S/5,000 and S/10,000.

Finally, the representative of the business sector emphasizes that the municipal savings and credit banks they require a capital strengthening with a contribution of S/1,000 million, which could generate a credit boost of up to S/10,000 million.