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Cofide announced its initiatives to improve financial inclusion in Peru during the Seminar organized by ALIDE and ECLAC

At the Seminar on financial inclusion for SMEs and innovative development bank policies, organized by ALIDE and ECLAC, on the 16th and 17th of August of 2017, Cofide reaffirmed its support for financial inclusion policies promoted by ECLAC.

20 August 2017|Briefing note

Pedro Grados, the president of the Development Bank of Peru (Cofide) announced that Cofide has plans to support SME exporters with financing or by partially guaranteeing credits granted to them. He also informed of the next disbursement (via financial institutions) of soft loans for SMEs affected by the climatic phenomenon Coastal El Niño.

In order to help regional governments that derive fee-based income from the use of infrastructure, Cofide seeks to facilitate access to financing for infrastructure projects. The aid will be in the form of guarantees that will also be channeled via other financial institutions—those that are willing to assume a certain percentage of risk in the final client (the regional governments). 

Lastly, Cofide committed itself to contribute to the reduction of poverty with financial education programs. These financial culture programs on savings and credit will be directed at individuals, especially entrepreneurs, with a low income and without access to financing. This way, the entrepreneurs could then apply for specialized microfinance loans. It was also mentioned that one of these programs plans for the creation of a savings and loan credit union (UNICA).