Mibanco Banco de la Microempresa S.A.Status: Approved investment
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Who is our customer
Mibanco, Banco de la Microempresa S.A. is a bank in Peru specialized in microfinance. As of June 2022, the bank has USD 4.4 billion in total assets and a loan portfolio of USD 3.7 billion. The bulk of the portfolio is allocated to microentrepreneurs and small enterprises.
What is our funding objective?
All funds, including FMO’s participation, will be used to on lend to formal and informal women-owned MSMEs in Peru.
Why do we fund this investment?
The funding objective will contribute towards FMO’s goals in SDG 10 - Reduced Inequalities, SDG 8 - Decent Work & Economic Growth and SDG 5 - Gender Equality. These goals are addressed by four work fronts defined within Mibanco's sustainability strategy.
What is the Environmental and Social categorization rationale?
The project has been categorised as E&S Category C, in accordance with FMO’s Sustainability Policy. The Project’s activities are deemed to have minimal or no adverse environmental and social risks and/or impacts. As part of the Project, Mibanco is required to apply the IFC Exclusion List, that aligns with the EDFI exclusion list. Moreover, the bank is required to ensure its loan portfolio complies with the relevant Peruvian E&S laws and regulations. Following FMO’s Client Protection Principles policy, Mibanco has been categorized as CPP category B. The bank’s main business line is to provide financial services for consumers and microenterprises. The bank has a clear mission of financial inclusion and has the Smart Campaign Certification, denoting its adherence to Client Protection Practices.
- Website customer/investment
- Latin America & The Caribbean
- Financial Institutions
- Publication date
- Effective date
- Total FMO financing
- USD 50.00 MLN
- FMO NV
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C)