The International Finance Corporation (IFC), the private-sector investment arm of the World Bank Group, recently partnered with Amerika Financiera, a Peruvian finance organization that specializes in leasing services for small and medium-sized enterprises (SMEs), to broaden the range of financial products that the company offers. IFC’s role will be to help Amerika Financiera develop and implement new trade financing products that will meet the needs of SMEs, which constitute a growing sector in the Peruvian economy.
According to IFC, the country’s financial services still target primarily high-income clients while leaving small businesses undercapitalized. Greta Bull, IFC’s advisory services program manager in Latin America and the Caribbean supports the partnership, saying, “Our advisory services will assist Amerika Financiera in broadening its reach, developing trade-finance skills, and growing its financial-service offerings to small and medium businesses, an important engine of economic growth in Peru.” Amerika Financiera has an outstanding loan portfolio valued at the equivalent of USD 136.5 million.
By Julie Moksim, Research Associate
About the International Finance Corporation (IFC): A member of the World Bank Group, the International Finance Corporation (IFC) offers loan and debt securities, equity investments, advisory services and technical assistance to private companies with the intent of alleviating poverty and promoting open and competitive markets in developing countries. IFC has 182 member countries that “collectively determine its policies, and approve investments.” In fiscal year 2009, IFC’s new investments totaled USD 14.5 billion.
About Amerika Financiera: Amerika Financiera is a Peruvian financial services company that specializes primarily in the leasing sector and whose products include real estate and import leasing, leaseback and other leasing services directed towards small and medium-sized enterprises (SMEs). In May 2010, the company was licensed to operate as a finance company, which enabled it to expand its product line-up, including trade financing products for SMEs. Amerika Financiera has an outstanding loan portfolio valued at the equivalent of USD 136.5 million.
Sources and Additional Resources:
International Finance Corporation (IFC) Press Release: “IFC, Amerika Financiera Broaden Financial Services for Peru’s Small and Medium Enterprises”, February 28, 2011,http://www.ifc.org/ifcext/media.nsf/content/SelectedPressRelease?OpenDocument&UNID=E1E4DB30CCCEDDC885257845005C8811
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MicroCapital’s Microfinance Universe Profile: Amerika Financiera
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