The funds will be used to promote financing for green buildings, sustainable agriculture, and small and medium-sized enterprises (SMEs), particularly those led by women in Peru.
The International Finance Corporation (IFC), a member of the World Bank Group, provided sustainable financing of US$250 million to the Banco de Crédito de Perú (BCP), with the aim of promoting financing for green buildings, sustainable agriculture, and small and medium-sized enterprises (SMEs), particularly those led by women in Peru.
The funds will be used to finance sustainable construction projects that hold international certifications such as EDGE or LEED. They will also focus on initiatives related to climate-resilient agriculture and strengthening access to credit for small and medium-sized enterprises, which are considered key sectors for the country’s economic development and job creation.
“This transaction will allow us to continue strengthening our sustainability strategy by promoting projects that generate economic value and, at the same time, have a positive socio-environmental impact, with a special emphasis on sectors that are key to job creation and development in our country,” said Diego Cavero, CEO of BCP.
It is worth noting that the investment is backed by an incentive under IFC’s Market Accelerator for Green Construction (MAGC), a blended finance program supported by the United Kingdom through the Department for Energy Security and Net Zero. MAGC aims to scale up green construction in emerging markets by incentivizing financial intermediaries to offer or expand financing products for sustainable construction.
