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Cofide approves 167.5M soles capital injection from Peruvian state

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Cofide approves 167.5M soles capital injection from Peruvian state

Peru's Corporación Financiera de Desarrollo SA, or Cofide, said its shareholders approved a government plan that will increase the state-run development bank's share capital by 167.5 million Peruvian soles through cash contribution.

The government published a decree in December 2017 authorizing the Ministry of Economy and Finance to inject the additional capital.

In a regulatory filing, Cofide said the total share capital of the company amounted to about 1.87 billion soles after the capital raise and other adjustments.

As of May 23, US$1 was equivalent to 3.28 Peruvian soles.