Peru’s COFIDE launches “Peru Factoring” program

Isabel Guerra

Some 3,000 large companies that buy to the micro, small and medium enterprises will join the program "Peru Factoring" (launched yesterday by Cofide) according to its chairman, Daniel Zarate.

"The immediate goal is to have 100 large companies joining this program by the end of this year, which will in turn use the factoring system and benefit this way thousands of their suppliers," he said.

The program will allow suppliers of major companies to get their bills paid immediately but with a discount, in order to provide greater liquidity.

Peru Factoring has been created by Cofide, and it is supported by the Ministry of Economy and Finance (MEF) and the portfolio of Production.

Cofide stands for Corporacion Financiera de Desarrollo (Financial Corporation for Development)

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