MICROCAPITAL BRIEF: CAF Development Bank of Latin America to Promote Billetera Movil (BIM) of Asociacion de Bancos del Peru (ASBANC)

CAF Development Bank of Latin America, a Venezuela-based multilateral financial institution formerly known as the Corporacion Andina de Fomento, recently announced that it will support the Asociacion de Bancos del Peru (ASBANC) Financial Studies Center, a Peruvian-based trade organization with 23 members, by promoting its Billetera Móvil (BIM) digital payment system through financial education and other services.

The project focuses on: (i) ”Financial capacity development of Northern Lima, Piura and Sullana regions’ markets and stores […] ”; and (ii) “Promotion of digital payment technologies aimed at reducing cash transactions”.

As of December 2014, CAF reported total assets of USD 30 billion and a gross loan portfolio of USD 21 billion. As of the same date, its shareholder structure comprises 19 countries from Latin America, the Caribbean and Europe as well as 14 private banks from the Andean region.

By Kevin van den Brink, Research Associate

About CAF Development Bank of Latin America

Established in 1970 and headquartered in Caracas, Venezuela, CAF Development Bank of Latin America, formerly known as Corporaci?n Andina de Fomento, is a multilateral financial institution that provides loans for purposes such as microfinance, infrastructure and health in Latin America and the Caribbean. The bank also provides financial advisory services and technical assistance. As of December 2014, CAF reported total assets of USD 30 billion and a gross loan portfolio of USD 21 billion. As of the same date, its shareholder structure is comprised of 19 countries from Latin America, the Caribbean and Europe as well as 14 private banks from the Andean region.

About the Asociacion de Bancos del Peru (ASBANC)

Asociación de Bancos del Perú (ASBANC) is a Peruvian trade organization composed of 16 private banks, one mutual fund manager and six other financial institutions. Founded in 1967, it aims at strengthening the private financial system; providing information, advice and consultation to its members; and collaborating with regulatory authorities.

Sources and Additional Resources

MicroCapital Universe Profile: The Development Bank of Latin America (CAF)

MicroCapital Universe Profile: Asociacion de Bancos del Peru (ASBANC)

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