Holland & Knight has provided legal counsel to the Inter-American Investment Corporation (IDB Invest) and the Japan International Cooperation Agency (JICA) in a $100 million financing deal with Mibanco. The transaction, which closed on April 11, is aimed at supporting micro and small enterprises (MSEs) in Peru.
The financing consists of two $50 million senior loans from IDB Invest and JICA under their Collaborative Framework for Economic Recovery and Social Inclusion (CORE), established in 2021. This initiative seeks to enhance financial inclusion and promote sustainable economic growth in Peru. It is expected to benefit individual businesses while strengthening the broader business community and increasing opportunities for women entrepreneurs.
The financing will be accompanied by technical advisory services to improve Mibanco’s offerings for women-led MSEs. These services aim to address specific needs, identify structural barriers, and provide comprehensive solutions for business growth.
IDB Invest focuses on promoting economic development in Latin America and the Caribbean through private sector engagement. It finances sustainable companies and projects to achieve both financial results and broader economic, social, and environmental development goals.
JICA operates as an Incorporated Administrative Agency under Japanese law. Its mission includes promoting international cooperation and contributing to the development of both Japanese and global economies by supporting socioeconomic development in developing regions.
Holland & Knight Partner Stephen Double and Associate Nicolas Usandivaras represented IDB Invest and JICA in this transaction.
