EDPYME ACCESO CREDITICIO S.A.
Status: Approved investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Edpyme Acceso Crediticio is a non-banking financial institution (“Acceso” or “the NBFI”) in Peru that specializes in vehicle financing for segments that are typically underserved by the traditional banking system, such as taxi drivers and MSMEs.
What is our funding objective?
The funds will be used to grow the NBFI’s portfolio of CNG taxis and productive vehicles for MSMEs, which are less pollutant than diesel vehicles and therefore qualifies as a green investment.
Why do we fund this investment?
FMO is a long-term partner of Acceso since 2015, when it was the first DFI to finance them. The NBFI plays an important role in promoting financial inclusion and economic development in Peru. Part of its mission is to improve the quality of life of its customers through access to affordable financing and customized financial products and services.
What is the Environmental and Social categorization rationale?
E&S Category is C as the average loan size is under the USD 25,000. There is no exposure to exclusion activities, high risk sectors nor IFC PS Triggered Transactions. The bulk of the portfolio is allocated in the transportation segment and its operations are concentrated in the major cities of Peru.
More investments
| Date | Total FMO financing |
|---|---|
| 3/29/2019 | USD 15.00 MLN |
| 12/7/2015 | USD 10.00 MLN |
- Region
- Latin America & The Caribbean
- Country
- Peru
- Sector
- Financial Institutions
- Publication date
- 10/1/2019
- Effective date
- 12/11/2019
- Total FMO financing
- USD 10.00 MLN
- Funding
- FMO NV
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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) - C