EDYFICAR PCG

completed

EDPYME EDYFICAR (Edyficar or the company) is a microfinance institution that provides credit services to the low-income segment in Peru. Edyficar was established as a private limited company in 1997, and started its operations in 1998, after obtaining a limited banking license from the Peruvian Superintendent of banks and insurance companies. As of December 2006, Edyficar had a staff of 617 people and 36 branch offices, 23 of which were outside Lima. Edyficar is the second largest Peruvian micro-finance institution in terms of number of clients, serving more than 89,000 customers, and the eighth largest in terms of portfolio size. The proposed project involves assisting Edyficar accessing the Peruvian capital market to help it fund its expected growth and diversify its funding sources. The investment fits well IFC strategy with regards to the financial sector, by supporting a microfinance institution which focused on an underserved market.