Pro Mujer International and Grameen Foundation announced a US$1.2 million loan for Pro Mujer Peru that will expand new opportunities for poor Peruvian women in need of credit. The financing from Banco de Crédito del Perú was facilitated through a US$400,000 co-guarantee split evenly between Grameen Foundation’s Growth Guarantees Program and Pro Mujer International. It is the highest leverage yet achieved on financing provided by a Peruvian commercial bank to an MFI, and is a clear indication of the deepening support for microfinance in Peru’s commercial banking sector.

This also marks the first transaction negotiated jointly by Grameen Foundation and Pro Mujer International which have generated US$15.4 million in combined financing for Latin American MFIs since 2005.