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Peruvian microfinance comes to Brazil

source : Infolatam

Brazil is going through an economic boom and can count on an influx of workers from neighbouring countries including Peru and Bolivia. Many Peruvian immigrants work in sweat-shops under precarious working conditions. Others are official or unofficial street sellers. The Peruvians, for instance, are based mainly in Sao Paulo, according to a recent CNN article.

In the future, they could represent a “natural” clientele for the Peruvian Microfinance Institution (MFI) ACP. This large microfinance group, already present in several Latin American countries, has just requested a banking licence to operate in Brazil. The ACP group doesn’t restrict itself to serving Peruvian citizens – it plans in fact to start its banking activities in northern Amazonia, in the mining state of Maranhão.