The Peruvian financial system has granted a US$ 3 billion loan to Micro and Small Enterprises (MSE) in the last years, reported the Consortium for Economic and Social Research (CIES), a research economic organization.
"Peru has a world class micro financial industry, we have granted 1.5 million loans for a total of US$ 3 billion through several banks and financial institutions", said the executive director of CIES, Javier Portocarrero.
He stressed that Peru’s microfinance is strong and has steadily grown in recent years, according to Andina News Agency.
"There has been a huge increase in the microfinance sector through a quiet revolution process that has lasted almost 20 years".
Micro credits are primarily addressed to people in the urban parts of the country, who work on productive activities such as agriculture and metallurgy.
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