NEW YORK (May 28, 2025) – Holland & Knight advised Inter-American Investment Corporation (IDB Invest) and the Japan International Cooperation Agency (JICA) as lenders in a $100 million, three-year parallel term financing to Mibanco to support micro and small enterprises (MSEs) in Peru. IDB Invest and JICA each provided a $50 million senior loan as part of their Collaborative Framework for Economic Recovery and Social Inclusion (CORE), which they established in 2021. The deal closed on April 11.
The transaction will generate greater financial inclusion and boost sustainable economic growth in Peru. This effort will not only benefit individual businesses but will also strengthen the business community and increase opportunities for women entrepreneurs. The financing will be complemented with technical advisory services to strengthen Mibanco's value proposition for women-led MSEs by delving deeper into their differentiated needs, identifying the structural barriers they face and providing comprehensive financial and non-financial solutions to help their businesses grow.
IDB Invest is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social and environmental development in the region.
JICA is established as an Incorporated Administrative Agency under the Act of the Incorporated Administrative Agency - Japan International Cooperation Agency (Act No. 136, 2002). JICA aims to contribute to the promotion of international cooperation as well as the sound development of Japanese and global economy by supporting the socioeconomic development, recovery or economic stability of developing regions.
IDB Invest and JICA were represented by Holland & Knight Partner Stephen Double and Associate Nicolas Usandivaras.
More information on the transaction can be found here.