Cooperativa Pacífico
USD 8 million
SIFEM investment
2018
Year
Region: Peru
Sector: Financial Services
Financial instrument: Fixed Income Securities / Debt
Financial intermediary:
SMEs in Peru struggle to access financing, due to high fees and commissions and cumbersome collateral requirements. As a cooperative, Cooperativa Pacífico looks beyond the maximization of profit, and focuses on offering affordable financial and non-financial services to its members in order to contribute to personal and community development. For example, it has established financial literacy training programs for its members and their families. SIFEM’s USD 8 million loan enables the institution to meet the increasing demand from its members for additional and longer-term SME loans. This contributes to the deepening of the financial sector beyond the traditional banking sector and supports formal job creation.