The U.S. International Development Finance Corporation (DFC), the United States Agency for International Development (USAID), and Cooperativa de Ahorro y Crédito Abaco Ltda. (ABACO) have joined forces to improve access to finance for small farmers in the Peruvian Amazon.
With support from USAID, DFC is providing a $5 million loan portfolio guarantee to ABACO, demonstrating the US government commitment to promoting sustainable economic growth in the Peruvian Amazon. The guarantee strengthens ABACO’s capacity to lend to farmers, associations, producer cooperatives, and micro- and small-businesses in Amazonas, Cajamarca, Loreto, San Martin, Ucayali, Huanuco, Madre de Dios, Junin, and Cuzco. These loans will provide benefits that extend far beyond financial support – they will also enhance economic growth, job creation, and climate resilience.
Amy Paro, Mission Director of USAID/Peru, states, “This collaboration exemplifies cooperation, innovation, and inclusivity, as we work together to lift up small farmers, cooperatives, and microenterprises.”
James Polan, Vice President of DFC’s Office of Development Credit, notes, “DFC is committed to providing impactful financial support for businesses in Latin America. Through strategic partnerships with USAID and enterprises like ABACO, DFC can increase its support for small- and medium-sized agricultural producers, associations, and merchants in the Peruvian Amazon.”
Aligned with USAID/Peru’s strategic goals, this financial support aims to foster economic and social development in regions transitioning away from coca cultivation. The technical assistance from USAID Peru underscores a commitment to lasting change.
The combined efforts of DFC, ABACO, and USAID/Peru underscore a resolute commitment to sustainable, comprehensive, and impactful development. By directing financial support to areas of critical need, this partnership will unlock a brighter future for the Peruvian Amazon and its vibrant agricultural sector.
Source : U.S.EmbassyInPeru
