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Over 452,500 enterprises have accessed Reactiva Peru loans, 98% were MSEs

Lima's financial center. Photo: ANDINA/Carlos Lezama

09:02 | Lima, Sep. 24.

A total of 452,573 businesses from all economic sectors have received loans within the framework of Reactiva Peru Program as of September 16, the Central Reserve Bank (BCR) has reported.

It is worth highlighting that 98% these businesses are micro and small enterprises (MSEs), which have benefited from historically low interest rates.

With additional S/30 billion (about US$US$8.491 billion), the second stage of the program seeks to provide liquidity at low rates to companies of all sizes, favoring especially loans to MSEs.

Funds for a total of S/69.66 billion (about US$18.30 billion) in government-backed repos have been offered in this second stage (from June 30 to September 17), with S/24.84 billion (US$6.98 billion) at an average interest rate of 1.70% having been placed for the clients of financial entities.

On August 31, the BCR affirmed that —without Reactiva Peru Program— monthly loans to all types of businesses would have fallen by as much as 1.3% in July, compared to the previous month.

As is known, Reactiva Peru enables the economic system to remain operational by preventing the payment chain from breaking, in the face of the global coronavirus (COVID-19) pandemic.

(END) NDP/MVB

Published: 9/23/2020

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Over 452,500 enterprises have accessed Reactiva Peru loans, 98% were MSEs

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