The Mivivienda Fund (FMV), a company attached to the Ministry of Housing, Construction and Sanitation announced the subscription of a credit line with JP Morgan Chase Bank NA for US$ 290 million.
This 10-year financing is guaranteed by the Multilateral Investment Guarantee Agency (MIGA), which is part of the World Bank group. The full amount of the resources will be used to finance the Mivivienda Verde credits.
“This is the first operation with a MIGA guarantee in Peru, and it is a very important event for our institution and the country. This agreement is part of the financial sustainability strategy that the FMV has been carrying out, which seeks to identify various financing alternatives that offer favorable conditions to attend credit placements in the coming years, especially sustainable housing”, said Jose Carlos Forero, General Manager of the FMV.
Sustainability
Last March, the state company signed an agreement for a credit amounting to 80 million euros with the French Development Agency (AFD) to finance the construction of sustainable housing in the country. This loan is part of a joint line of credit (150 million euros) between the AFD and the German Development Bank – KfW, united under the scheme called Mutual Reliance Initiative – MRI. To date, contributions from international cooperation total 420 million euros.
“Thanks to this, we have managed to promote, in line with the policy of the Peruvian state, sustainable social housing with innovation and technology. At the same time, real estate developers, financial entities and families have been made aware of their important role in the fight against climate change”, underlined Pedro Arroyo Marquina, Chairman of the FMV Board of Directors.
In figures
From the creation of Mivivienda Verde in March 2015 to June of this year, 24,198 credits have been granted with a green bond, disbursing S/ 120 million, generating a significant impact on the promotion of sustainable housing in the country.
Likewise, to date an offer of 86,210 certified eco-friendly units has been registered, distributed in 449 projects nationwide. 75% corresponds to homes located in districts of Metropolitan Lima and Callao and 25% in the rest of the country, where regions such as Lambayeque, Piura, Arequipa, Ica and La Libertad stand out.
