Japanese microfinance fund seeks to assist small Peruvian farmers
Friday, April 4, 2014
A Japanese small-lot fund operator said Thursday it will launch a new fund with a credit cooperative in Peru to assist Peruvian small farmers, who lack access to financial services, to meet their daily farming needs.
Music Securities Inc. plans to raise a total of 51 million yen for the microfinance fund from Japanese individuals who can invest from 30,000 yen.
Music Securities’ partner ABACO cooperative aims to provide loans worth 8 billion yen by 2018 for 35,000 Peruvian small farmers nationwide. The Peruvian cooperative will also receive loans from the Inter America Development Bank for the microfinance project.