To increase its production capacity cement plant, the Corporacion Andina de Fomento (CAF) reported that with Banco de Credito del Peru (BCP) as part of a cofinancing transaction completed the structuring of long-term leasing $ 162 million for Cemento Andino.

This is a finance lease where the landlord only acts as BCP and share the credit risk assumed by the CAF, which participates through the issuance of a partial credit guarantee of $ 50 million for the BCP.

The principal representative of the CAF in Peru, Eleonora Silva said that this operation will not only allow Cemento Andino finance the expansion plan of its cement factory and offer their customers a sufficient capacity of cement production, but also represents the momentum the co-financing of private projects by the CAF and local financial institutions.

"This loan supports the position of our institution to support a company with solid financial position and to Peru in the different productive sectors," he added.

This grant will allow Cemento Andino expand its production capacity cement plant located in the Junin region, increasing its annual output to at least 800 metric tons (MT) of cement and 700 thousand metric tons of clinker.

This funding is the largest leasing transaction structured in Peru, besides being the first time you use the participatory leasing scheme in the country.

It thus represents an important impetus in the development of private projects through co-financing between local and multilateral.

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