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Peru: Gov't extends validity of FAE-Texco to reactivate MSEs

10:19 | Lima, Feb. 1.

The Ministry of Economy and Finance (MEF) has extended the validity of the Business Support Fund for the Textile and Clothing Sector (FAE-Texco), with the aim of promoting the financing of micro- and small-sized enterprises (MSEs) in the sector.

By Ministerial Resolution No. 036-2023-EF/15, published on Wednesday in the Official Gazette El Peruano, the FAE-Texco operating regulations —approved through Ministerial Resolution No. 178-2022-EF/15— were modified as follows.

"Article 16. The FAE-Texco is valid for 78 months, from the expiration date of the acceptance period established in Article 17 of Urgency Decree No. 002-2023. Said term includes the liquidation term of the aforementioned Fund," the resolution reads.

It should be noted that the term for granting guarantees for new FAE-Texco credits expires on June 30, 2023, and then it was set to be valid for six years, but now, with the amendment, it will be valid for 78 months.

The ministerial resolution will be published on the Peruvian State's Single Digital Platform for Citizen Orientation, as well as on the digital portals of the MEF and the Ministry of Production.

#ConPunchePerú??????reactivaremos las mypes. La medida permitirá la ampliación, hasta el 30 de junio del año 2023, del plazo para las reprogramaciones de los créditos otorgados en #ReactivaPerú, FAE Turismo; así como el otorgamiento de créditos a través del FAE-Texco. pic.twitter.com/Y1Etzbti8b
— Ministerio de Economía y Finanzas (@MEF_Peru) January 4, 2023