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Peru

While Peru is a country of vast physical and cultural beauty, 54% of the population still lives below the poverty line. Much of the country’s beauty is derived from the massive Andes Mountains which slice through the country causing huge transportation and communication difficulties. Geographical as well as ethnic barriers have caused Peru to become an exceptionally unequal country where the richest 10% of household enjoying more than 32% of the income and the poorest 10% only 0.8%. As only 3.5% of Peruvians have access to credit and only 4.5% have banked savings, microfinance has a lot of room to expand in this country of 27.9 million people.*

*Sources: CIA: The World Factbook; The MIX Market

ACCION's Partner in Peru

Mibanco

Mibanco's mission is to promote the economic development of Peru's low-income majority by providing high quality credit and other financial services to microentrepreneurs.

Read more
With a smile on his face, Alejandro looks out at his fields of corn, tomatoes, garbanzos, beans, butternut squash, alfalfa, beets and fruit and says, “I’ve worked all my life – I’m almost 75 and don’t plan on resting anytime soon.”

Alejandro Seclén Gelacio
Client of ACCION partner Mibanco in Morrope, Peru