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Report: Peru's Agrobanco looks for private investors to help provide 1.9B soles in credit in '16

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Report: Peru's Agrobanco looks for private investors to help provide 1.9B soles in credit in '16

Peru'sBanco Agropecuario, orAgrobanco, expects to provide more than 1.9 billion Peruvian soles in credit tomicro and small producers in Peru in 2016 with the help of private investors, Gestión reported April 11, citing PresidentEnrique Díaz.

The bankaims to seek partners in the private sector locally and internationally to obtainenough resources to increase the access of more producers to credit in the agriculturesector.

In thisregard, the bank held the Primer Investor Day on April 7 in the city of Ica, whichbrought together 50 potential investors and financial institutions, the report said.

Díaztold participants that only 15% of Peru's 2 million agricultural producers haveaccess to credit, which means there are a lot of producers who could benefit fromprivate capital.

Agrobancocurrently has loans totaling 1.6 billion soles and over 110,000 clients, he said.

As of April 8, US$1 was worth3.40 Peruvian soles.