Peru
Banco Wiese Sudameris
$58.43 million
Financial Markets
Project Brief
Not Active
MIGA has provided Banque Sudameris S.A. of France a guarantee for $58.4 million to cover its $50 million shareholder loan (and interest) to Banco Wiese Sudameris of Peru. The coverage is for five years, and is against the risks of transfer restriction and expropriation of funds.
A key development objective for the government of Peru is to increase medium- to longterm financing, especially for SMEs and for residential housing. This project will allow Banco Wiese Sudameris to expand its operations in Peru and support Peruvian companies with financing, which is in short supply in the country. It is expected to have a significant developmental impact since the bank will concentrate on the retail sector, SMEs and mortgage financing.