Strengthening of Credit Unions

cancelled

This technical cooperation (TC) seeks to improve access to savings and loan services for small and micro enterprise operators, with special attention to those in Peru's interior, thus strengthening the integration of the credit cooperatives (COOPACs) into the structure of prudential supervision that covers the rest of the country's banking system. The project has: (a) a Superintendency of Banks and Insurance (SBS) component; and (b) a National Federation of Credit Unions (FENACREP) component. With specialized technical assistance, the SBS will: a) design prudential standards; b) supervise the oversight and inspection work of the National Federation of Credit Unions (FENACREP) in relation to the COOPACs, to ensure that quality standards are upheld; and c) assign the necessary technical staff to monitor the financial condition of the COOPACs supervised by FENACREP. In addition, the TC will fund personnel training and visits to countries that have systems of delegated supervision. This TC is parallel to the Technical Cooperation Operation for the Financial Sector II (PE-0202).