Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Peru
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • Netherlands Development Finance Company (FMO)
Bank Risk Rating: C
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Investment Amount (USD): $ 10.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.

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Primary Source

Original disclosure @ FMO website
Updated in EWS: 2017-11-03
EDPYME ACCESO CREDITICIO S.A.
FMO-45080

Project Description
WHO IS OUR CLIENT Acceso Crediticio is a taxi leasing company in Lima. FUNDING OBJECTIVE Financial inclusion. WHY WE FUND THIS PROJECT Acceso's financing makes possible that, with one year of experience as a taxi driver in Lima, the drivers can purchase their own taxi. Most of Accesoa€™s clients would not be eligible for any regular car leasing schemes, given their lack of credit history. Through a system of loan repayments at the gas station and a car maintenance model with high Acceso involvement, these taxi drivers become bankable. Additionally, as the taxis are CNG fueled, the emissions of the Acceso financed taxis are lower than for petrol fueled cars, leading to relevant CO2 avoidance. As this funding transaction is highly inclusive and given the relatively high credit risk profile of the institution, the transaction will be financed from MASSIF. We will lend the local currency equivalent of USD 10 million to Acceso for 4.5 years. This transaction is a follow-up of a smaller loan provided by Locfund, a regional microfinance fund of which FMO, through the MASSIF fund, is a founding shareholder.
Investment Description
Contact Information
FMO The Netherlands +31 70 314 96 96 info@fmo.nl Anna van Saksenlaan 71 2593 HW, The Hague The Netherlands FMO South Africa +27 11 507 2500 joburg-office@fmo.nl Regent Place, 2nd Floor Cradock Ave, Rosebank 2196 Johannesburg South Africa